A substantial insider activity was disclosed on December 28, as Drake, VP & CFO at Toro (NYSE:TTC), reported the exercise of a large sell of company stock options.
What Happened: Disclosed in a Form 4 filing on Thursday with the U.S. Securities and Exchange Commission, Drake, VP & CFO at Toro, executed a strategic derivative sale. This involved exercising stock options for 0 shares of TTC, resulting in a transaction value of $0.
Currently, Toro shares are trading down 0.53%, priced at $96.34 during Friday's morning. This values Drake's 0 shares at $0.
About Toro
The Toro Co manufactures turf maintenance and landscaping equipment. The company produces reel and rotary riding products, trim cutting and walking mowers, greens rollers, turf sprayer equipment, underground irrigation systems, heavy-duty walk-behind mowers, and sprinkler systems used for professional turf and landscape maintenance and construction. Its products are marketed through a network of distributors and dealers to predominantly professional users maintaining turfs and sports fields such as golf courses. Its operating segments are Professional which generates a substantial part of its revenue, and Residential segment. The company also produces snow plowers and ice management products. Its key revenue generating market is the United States.
Toro: A Financial Overview
Decline in Revenue: Over the 3 months period, Toro faced challenges, resulting in a decline ...