Plantronics Inc (NYSE:PLT), saw one of its high level insiders lower his position with the massive corporation. Chief Executive Officer of Global and Corporate dealings with the company Kenneth S. Kannappan sold 653 shares at an average price of $46.92 per share.
Following the completion of this transaction, Kannappan now holds a total of 154,579 shares directly and 15,146 shares Indirectly in the $2.21 billion market cap company. Plantronics Inc (NYSE:PLT) is a global designer, manufacturer, and marketer of lightweight communications headsets, telephone headset systems, and accessories for the business and consumer markets under the Plantronics brand. In addition, the Company manufactures and markets specialty products under Clarity brand, such as telephones for the hearing impaired, and other related products for people with special communication needs.
Moreover, the company has multiple outside investors, the largest being Royce & Associates, the hedge fund run by Chuck Royce. This fund rose its activity by 8% last quarter, and now has a total of 4,917,809 shares worth approximately $218.6 million invested in the company.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.