The cohort of seven tech companies, which also includes Amazon.com Inc (AMZN), Microsoft Corp (MSFT), Meta Platforms Inc (META) and Tesla Inc (TSLA), is up nearly 150% since the beginning of last year, in part due to investor appetite for any stock that offers exposure to artificial intelligence.

Recent quarterly results have shown that the rally is still in place, with all stocks except Meta rising following their reports. Nvidia, which is due to report later this month, is the only one of the Magnificent Seven that has yet to release results.

Even managers of companies that aren't performing well are selling. Unlike its Magnificent Seven peers, Tesla's stock price has plummeted this year, but that hasn't stopped CEO Robyn Denholm from filing a request this year to sell some $52 million worth of the electric vehicle maker's shares, after not touching her stake since 2022.

Some senior executives are selling shares for the first time. Alphabet CEO Ruth Porat pocketed about US$6.6 million selling shares of the search engine giant in march, her first sale since joining the Silicon Valley company in 2015 after spending more than two decades at Morgan Stanley.

Alphabet shares are up more than 500% since Porat traded Wall Street for California. With the U.S. presidential election later this year and the Federal Reserve indicating it won't cut interest rates anytime soon, it's no wonder many insiders are cashing in on the recent rally, Greif said.

"No one wants to get caught in a game of musical chairs when the music stops", he said.

Translated by: A.M