“Some insiders at the company [Palm] have been hanging up on their shares. Two executives and a director have sold a total of about $4.6 million in stock in the past three weeks, the first string of sales at the company since last September,” Avi Salzman reports for Barron’s.

“Renata Lane, senior vice president in charge of human resources, sold 176,458 shares on Friday after exercising options, for $2.7 million, or about $15.03 per share. The options were set to expire in 2013 and 2015,” Salzman reports.

“Brodie Keast, senior vice president for marketing, sold 20,295 shares on Thursday for $300,000, or about $14.80 per share,” Salzman reports. “And on June 29, director Gordon Campbell sold 106,939 shares after exercising options for $1.7 million, or about $15.84 per share. His options were also set to expire between 2013 and 2015. Campbell is president of Techfarm, of Palo Alto, Calif., which funds tech start-ups.”

Salzman reports, “Shares have surged in part on short covering and frenzied buying, possibly getting ahead of the company’s fundamentals, a recent Barron’s Take argued (see Barron’s Take, “Palm Investors Should Sweat,” June 26, 2009). The stock price has already factored in the early success of the Pre and the company has not offered enough guidance, the article notes.”

Full article here.