As eBay's Stock Soared, Insiders Sold

Updated from 7:12 a.m. EDT

eBay (EBAY Quote) insiders have been selling the company's shares at a torrid pace this year, even as institutional investors have rushed in to buy.

In the first five months of this year, 10 eBay directors and executives sold 1.7 million shares, a little more than 0.5% of the outstanding shares, at the beginning of the year, according to data compiled by Vickers. In the process, those insiders realized more than $116 million in gains from those sales. During that period, eBay shares rose more than 40%.

Topping the list: eBay CEO Meg Whitman, who realized some $57.3 million through the sale of about 685,000 shares. The stock sales represented about 9% of the stock held by Whitman at the beginning of the year. ...