Sotheby’s stock has been on a tear these last two years since it bottomed out at $6.47. Steven Cohen road the first leg up in the stock but since then the global recovery in the art market has brought in many more buyers with the stock now trading at nearly 8x the low price.
Insiders have been taking advantage of this fortuitous rise, selling more than $11m worth of stock since last Fall. Guru focus gives us the sales but not the cost basis. Chief Operating Officer Bruno Vinciguerra has started making some of his first stock sales since joining the company. CEO William Ruprecht continues regular sales racking up some $6m in cash. But the best market timer has been CFO William Sheridan who held out until just a few days ago to get more than $49 per share in his transactions.