T-Mobile (NASDAQ:TMUS) stock is in the news Wednesday as investors react to company President and CEO Michael Sievert selling shares.
According to a filing with the U.S. Securities and Exchange Commission (SEC), the T-Mobile leader sold a total of 96,500 shares on Friday. That leaves the CEO with 489,839 shares held directly and another 95,000 held by his family’s LLC.
The company CEO sold the TMUS shares for between $147.11 to $148.30 each. That comes to an average price of $147.55 per share for TMUS stock. It also means the shares sold were worth roughly $14.24 million.
What This Means for TMUS Stock
It’s not uncommon for company leaders to sell shares of their stock from time to time. This appears to be one of those cases where the executive is simply offloading some shares for cash.
Sometimes investors see this as a negative for company morale. However, TMUS stock isn’t falling today. Instead, the shares are up slightly as of Wednesday morning. All of this points toward the stock sale not being a major negative for investors in T-Mobile.
Outside of this, we have plenty of other stock market stories that traders are going to want to read about on Wednesday!
InvestorPlace is home to all of the hottest stock market coverage worth knowing about today! Among that is what’s happening with shares of Microsoft (NASDAQ:MSFT), PaxMedica (NASDAQ:PXMD) and Virgin Galactic (NYSE:SPCE) stock today. You can catch up on all of these matters at the links below!
More Stock Market News for Wednesday
- Sam Altman Is Back at OpenAI. What Does That Mean for Microsoft (MSFT) Stock?
- Why Is PaxMedica (PXMD) Stock Up 57% Today?
- Morgan Stanley Is Souring on Virgin Galactic (SPCE) Stock
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
