Progressive Insiders Sell $16m in Stock, Raising Concerns of Potential Weakness

In the last year, several insiders at Progressive sold a significant amount of stock, totaling $16 million. The VP and CFO sold $2.8 million worth of shares at $280 each. Insiders didn't buy any shares during this time. While insider selling can have various explanations, the large sales may suggest potential weakness in the company. However, the high insider ownership (0.3% of the company) could indicate that insiders are mindful of shareholder interests.