Insiders will sell for any number of reasons, they buy for only one.
(maybe two if they are trying to make a statement and buying stock is cheaper than hiring the PR peeps)
Today the stock is off 5% from Thursday's close at $54.91, in a generally down market.
From Barron's March 16, updated March 17:
With bank stocks fluctuating wildly this week after Silicon Valley Bank’s collapse, Charles Schwab SCHW –5.17% CEO Walt Bettinger and other insiders bought the dip, according to Securities and Exchange Commission filings.
Charles Schwab stock (ticker: SCHW) is down about 28% over the past month. It fell 23% in early Monday trading to $45, though the stock has since pared losses to $57.88.
Amid the stock’s turmoil on Monday, Bettinger and founder Charles Schwab published a statement to reassure investors.
“Schwab’s longstanding reputation as a safe port in a storm remains intact, driven by record-setting business performance, a conservative balance sheet, a strong liquidity position, and a diversified base of 34 million+ account holders who invest with Schwab every day,” Bettinger and Schwab wrote.
Bettinger backed up his statement on Tuesday, paying $2.97 million to buy 50,000 Schwab shares at an average price of $59.31, according to an SEC filing. That same day, Chief Financial Officer Peter Crawford’s trust paid $289,780 for 5,000 shares at an average price of $57.96; director Todd Ricketts paid $567,862 for 10,000 shares at an average price of $56.79; and director John Adams paid $296,550 for 5,000 shares at an average price of $59.31....
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Also Business Insider via MSN on March 14:Billionaire investor Ron Baron snaps up more Charles Schwab stock amid the SVB-induced sell-off
