Substantial shareholders in top-league Israeli companies are continuing to sell off shares. Not unexpectedly, the big sellers in recent days belong to the three most successful Israeli companies
These companies were relatively untouched by the Nasdaq crash in 2000.
One big seller is Shlomo Kramer, one of Check Point's three founders. Kramer says he has sold $30 million worth of Check Point stock. He still owns a 7% interest in Check Point. Check Point Chairman, President and CEO Gil Shwed and Sr. VP Marius Nacht each hold 10%.
Kramer is in good company. The Amdocs senior executive fund TOES has filed a request to sell 375,000 Amdocs shares worth about $27 million.
In addition, the Ribchester fund has filed a request to sell 100,000 Amdocs shares worth $7.5 million. Identifying details of this fund are not available, but it may be connected to Amdocs employees or owners.
Comverse shareholders are also selling. Chairman and CEO Kobi Alexander last year sold $100 million worth of shares. Other executives are joining the party, living up to a comment that Comverse Network Systems CEO Zeev Bergman once made to TheMarker.com, that people staying at Comverse for the long term do well.
Comverse Infosys CEO Dan Bodner has stayed long, and done well. Bodner has filed a request to sell 10,000 Comverse shares worth some $1 million.
Comverse CFO David Kreinberg has filed a request to sell 3,600 shares worth $400,000. In recent years Kreinberg sold tens of millions of dollars worth of Comverse shares.