Berkshire Hathaway executive slashes half of his stake💡

Ajit Jain, an insurance executive at Berkshire Hathaway (BRKA.US), has sold more than half of his stake in the company, according to a new SEC regulatory filing.

The nearly 73-year-old vice chairman disposed of 200 Berkshire Class A shares on Monday at an average price of $695,418 per share for a total of nearly $139 million. Monday's sale represented 55% of his total stake in Berkshire.

The move marked the biggest drop in Jain's holdings since he joined Berkshire in 1986. It is worth recalling that the conglomerate's market value reached $1 trillion in late August.

The company's shares tested the 50-day exponential moving average (blue curve on the chart) on Tuesday. Source: xStation