401k company stock question

[jlt19]

I just started a job with a 401k in June. it's a publicly traded utility and part of the match goes into their stock (sort of, it's not the actual stock, but a fund that is 99.2% our stock and .78% Money Market or something).

Anyway, there's no rules (that I can tell) about selling/exchanging within my account and it's the only thing in my 401k that isn't performing well and it's at 14% of my account. So I'm thinking of selling some and putting it in other funds. I have two questions:

1. My company won't know I do this right? I don't want it to look like I don't have "faith" in them but also don't like the idea of having such a large position in one stock. 

2. If you have a similar situation (work for a publicly traded company) how does your company do it and do you trade out of them when you can?

I mean, if I worked for Amazon, or something that could appreciate a lot, I'd probably leave it, but as a utility, the gains I would guess the gains will be slow and steady over time. 

[gt7301b]

Honestly, I wouldn't care if my employer knew I was selling the stock.  It isn't about not having "faith" in the company, it is about separating your retirement investments from your employer.  You don't want to end up in an Enron situation where the stock tanks and you also are no longer employed.  It may be less of an issue if you work for a utility, but it would be my concern.

When I worked for a publicly traded company nobody questioned when I bought or sold shares, they just had to be done in the "open" period, because of my position.

[savan]

I set up my 401k to automatically rebalance every quarter. I set what percentage of the total I want for each fund, including company stock. The amounts in each fund/stock get shuffled every 3 months and it has never been an issue.

[jlt19]

So, building off of this, because working for a traded company is brand new to me, so I'm finding some interesting things and curious if any of you seem to follow them as well (for your own companies).

Since my shares are a fund, it only prices after the market closes, but since it's comprised of mostly the stock, I can watch the stock during the trading day to determine if it's going to go up or down, obviously.

In doing so, I see news of "insider trading" reports of the upper management when they file the SEC forms before doing so (all legit, nothing nefarious). This is so interesting to me, because I know some of these people (well via Teams, I don't know anyone in person) but also wonder if it's something to keep an eye on to see if/when they buy or sell to possibly follow suit.

[mlkgls]

I grew up in Houston and Enron is always in the back of my mind for situations like this; as long as you aren’t barred from divesting, having 14% tied up in one stock seems riskier than I would like. Is there someone within HR or the outside 401k you could reach out to for logistical questions? As long as it’s not illegal or unethical then I would reallocate.

I love how active the board has been lately, but I’m realizing I have no idea if my 401k is rebalanced on a regular basis or if it’s even possible to sell stock within it. I know it’s a target date fund that I throw money at.

[sadlebred]

I thought companies couldn't put their match into their stock anymore after Enron? In my 401K, you can't even buy company stock. I'd divest all of it. If you feel like you "have" to keep some in company stock, keep it to 1%.