Demand Media Inc. ( DMD ): CEO and Chairman of the Board M. Richard Rosenblatt Sold 150,000 Shares
CEO and Chairman of the Board of Demand Media Inc. ( DMD ) Richard M. Rosenblatt sold 150,000 shares on 10/17/2012 at an average price of $10.11. Demand Media operates as a media company comprising of two distinct and complementary service offerings: Content & Media and Registrar. Demand Media Inc. has a market cap of $818.97 million; its shares were traded at around $9.63 with a P/E ratio of 481.5 and P/S ratio of 2.52.
Demand Media Inc. reported their 2012 second quarter financial results. The company reported total net income of $79.5 million and net loss of $2.4 million.
CEO and Chairman of the Board Richard M. Rosenblatt sold 400,000 shares of DMD stock in August, September and October. Chief Revenue and Marketing Officer Joanne K. Bradford sold 85,788 shares of DMD stock in May, June and September.
Is this related to the a potential disqualification from ICANN for the new top level domains they have applied for?
CEO's sell blocks of their shares "all the time" for various reasons. If you look at history, often the reasons have almost nothing to do with business operations and more to do with personal finances. Who knows why he sold his shares. The man just bought a multi-million dollar house and probably has a hefty mortgage. Or maybe he wants to buy a beach house in Hawaii.
Besides, before the sale, Rosenblatt held more than 3.5 Million shares of DMD. Now he has 3.2 million shares. Wouldn't you want to diversify a little if you're entire net worth was tied to one company? If he was that concerned with the future of DMD, I think he would have sold more of his shares by now.
Your post screams of the usual FUD misinformation that circulates these type of message boards. Obviously you are short and attempting to get shareholders to sell their shares. Have fun covering when this is back to $11 a share.
I agree with sirallsworth. One can't read too much into a CEO selling a block of shares. Happens all the time to good and bad companies. Most of DMD shares are held by insiders. Look it up. The insider ownership is more than most companies. And the majority of those holders haven't sold, even when things were bad in 2011. So, the CEO sold less than 10% of over 3.5 million shares - big deal.