Berkshire Hathaway's Ajit Jain sells more than half his stake in the company

The SEC filing said Jain sold 200 of his Class A shares at an average of $695,418 per share

Ajit Jain, the Vice Chairman of Berkshire Hathaway and Warren's Buffett's top executive, has sold more than half of his stake in the company, garnering $139 million, as per a regulatory filing dated September 9.

The SEC filing said Jain sold 200 of his Class A shares at an average of $695,418 per share, just days after the Berkshire Hathaway hit the $1 trillion market cap. The share sale is 54% of Jain's total stake in Berkshire.

Post the share sale, Ajit Jain owns only 61 shares of Berkshire, while family trusts in his and spouse Indirma Jain's name together hold 55 shares, with non-profit corporation Jain Foundation Inc in possession of 50 shares.

CNBC International quoted David Kass, Finance Professor at Robert H. Smith School of Business, University of Maryland posted saying, “This appears to be a signal that Ajit views Berkshire as being fully valued.”

Jain, 72, who joined Berkshire in 1986, is heading the insurance operations, and was reported to be in the contention to succeed the top job, which went to Greg Abel, earlier this year.

Bloomberg News attempted to reach out to Jain by phone but he declined to comment. Berkshire Hathaway has not yet respond to their request for comment.

Stock market investors have questioned if Jain would stay on and help Abel run Berkshire once Buffett, now 94, steps aside. For years, Buffett and Jain used to have a daily call, regarding Berkshire's operations, it had been reported.