QQQ   427.32 (-0.75%)
AAPL   181.56 (-0.41%)
MSFT   402.79 (-0.31%)
META   471.75 (-0.33%)
GOOGL   141.12 (+0.43%)
AMZN   167.08 (-1.43%)
TSLA   193.76 (-3.10%)
NVDA   694.52 (-4.35%)
NIO   5.96 (-2.93%)
AMD   165.69 (-4.70%)
BABA   73.15 (-1.03%)
T   16.92 (-0.29%)
F   12.26 (-0.33%)
MU   80.71 (+1.52%)
CGC   3.54 (-7.33%)
GE   148.62 (-0.36%)
DIS   109.44 (-1.94%)
AMC   4.67 (-3.52%)
PFE   27.60 (-0.07%)
PYPL   58.63 (-0.86%)
XOM   102.75 (-0.94%)
QQQ   427.32 (-0.75%)
AAPL   181.56 (-0.41%)
MSFT   402.79 (-0.31%)
META   471.75 (-0.33%)
GOOGL   141.12 (+0.43%)
AMZN   167.08 (-1.43%)
TSLA   193.76 (-3.10%)
NVDA   694.52 (-4.35%)
NIO   5.96 (-2.93%)
AMD   165.69 (-4.70%)
BABA   73.15 (-1.03%)
T   16.92 (-0.29%)
F   12.26 (-0.33%)
MU   80.71 (+1.52%)
CGC   3.54 (-7.33%)
GE   148.62 (-0.36%)
DIS   109.44 (-1.94%)
AMC   4.67 (-3.52%)
PFE   27.60 (-0.07%)
PYPL   58.63 (-0.86%)
XOM   102.75 (-0.94%)
QQQ   427.32 (-0.75%)
AAPL   181.56 (-0.41%)
MSFT   402.79 (-0.31%)
META   471.75 (-0.33%)
GOOGL   141.12 (+0.43%)
AMZN   167.08 (-1.43%)
TSLA   193.76 (-3.10%)
NVDA   694.52 (-4.35%)
NIO   5.96 (-2.93%)
AMD   165.69 (-4.70%)
BABA   73.15 (-1.03%)
T   16.92 (-0.29%)
F   12.26 (-0.33%)
MU   80.71 (+1.52%)
CGC   3.54 (-7.33%)
GE   148.62 (-0.36%)
DIS   109.44 (-1.94%)
AMC   4.67 (-3.52%)
PFE   27.60 (-0.07%)
PYPL   58.63 (-0.86%)
XOM   102.75 (-0.94%)
QQQ   427.32 (-0.75%)
AAPL   181.56 (-0.41%)
MSFT   402.79 (-0.31%)
META   471.75 (-0.33%)
GOOGL   141.12 (+0.43%)
AMZN   167.08 (-1.43%)
TSLA   193.76 (-3.10%)
NVDA   694.52 (-4.35%)
NIO   5.96 (-2.93%)
AMD   165.69 (-4.70%)
BABA   73.15 (-1.03%)
T   16.92 (-0.29%)
F   12.26 (-0.33%)
MU   80.71 (+1.52%)
CGC   3.54 (-7.33%)
GE   148.62 (-0.36%)
DIS   109.44 (-1.94%)
AMC   4.67 (-3.52%)
PFE   27.60 (-0.07%)
PYPL   58.63 (-0.86%)
XOM   102.75 (-0.94%)

Insider Trading Activity (Form 4 Filings)

An insider trade occurs when an individual that has non-public information about a company buys or sells shares of that company's stock. Examples of people who would be considered insiders include a company's executive officers (CEO, CFO, COO), its board of directors, and its major shareholders. Insiders are required to submit their trading activity to the Securities and Exchange Commission through Form 4 filings. Tracking a company's insider trading activity is an effective way to identify management's true outlook on the company's future growth and prospects. Below you will find MarketBeat's free insider trading tracker which reports the latest insider buying and selling activity from U.S., Canadian, and U.K. stock exchanges. What you need to know about insider trading.

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CompanyInsider NameBuy/SellShares Bought/SoldTotal TransactionShares Held After TransactionTransaction DateDetails
Advanced Micro Devices, Inc. stock logo
AMD
Advanced Micro Devices
Mark D Papermaster (EVP)Sell16,200$2,876,634.00 1,554,6022/15/2024
Aflac Incorporated stock logo
AFL
Aflac
Masatoshi Koide (Director)Sell30,493$2,436,695.63 86,0902/16/2024
Agree Realty Co. stock logo
ADC
Agree Realty
John Rakolta Jr (Director)Buy20,430$1,164,510.00 392,5492/16/2024
Altair Engineering Inc. stock logo
ALTR
Altair Engineering
James Ralph Scapa (CEO)Sell10,000$910,700.00 103,5912/16/2024
Altair Engineering Inc. stock logo
ALTR
Altair Engineering
Jrs Investments Llc (major shareholder)Sell5,000$455,350.002/16/2024
Amazon.com, Inc. stock logo
AMZN
Amazon.com
Jeffrey P Bezos (Insider)Sell5,998,849$1,014,825,285.33 940,261,0252/16/2024
Amazon.com, Inc. stock logo
AMZN
Amazon.com
Jeffrey P Bezos (Insider)Sell2,009,208$335,115,802.32 938,251,8172/20/2024
Amazon.com, Inc. stock logo
AMZN
Amazon.com
Jeffrey P Bezos (Insider)Sell5,998,849$1,014,825,285.33 940,261,0252/16/2024
Amazon.com, Inc. stock logo
AMZN
Amazon.com
Jeffrey P Bezos (Insider)Sell2,009,208$335,115,802.32 938,251,8172/20/2024
Amazon.com, Inc. stock logo
AMZN
Amazon.com
Andrew R Jassy (CEO)Sell50,000$8,432,500.00 2,014,0552/16/2024
Amicus Therapeutics, Inc. stock logo
FOLD
Amicus Therapeutics
Bradley L Campbell (CEO)Sell4,167$58,338.00 871,2192/15/2024
Amicus Therapeutics, Inc. stock logo
FOLD
Amicus Therapeutics
David Michael Clark (Insider)Sell4,427$61,978.00 253,6642/15/2024
Amicus Therapeutics, Inc. stock logo
FOLD
Amicus Therapeutics
John F Crowley (Chairman)Sell31,614$436,589.34 697,6282/15/2024
Aon plc stock logo
AON
AON
Michael Neller (Insider)Sell750$234,000.00 3,8692/15/2024
Aon plc stock logo
AON
AON
Christa Davies (CFO)Sell40,164$12,582,979.56 159,5702/16/2024
BancFirst Co. stock logo
BANF
BancFirst
Dennis Jay Hannah (EVP)Sell4,000$353,800.00 28,7142/9/2024
BancFirst Co. stock logo
BANF
BancFirst
Dennis Jay Hannah (EVP)Sell4,000$354,640.00 24,7142/12/2024
BancFirst Co. stock logo
BANF
BancFirst
Dennis Jay Hannah (EVP)Sell1,000$90,070.00 23,7142/15/2024
Bloom Energy Co. stock logo
BE
Bloom Energy
Shawn Marie Soderberg (EVP)Sell13,120$122,540.80 73,9462/16/2024
Boston Scientific Co. stock logo
BSX
Boston Scientific
Daniel J Brennan (CFO)Sell13,662$899,779.32 271,5422/20/2024
Boyd Gaming Co. stock logo
BYD
Boyd Gaming
Marianne Boyd Johnson (Chairman)Sell77,661$5,037,869.07 1,511,4332/15/2024
Boyd Gaming Co. stock logo
BYD
Boyd Gaming
Ted Bogich (COO)Sell41,631$2,697,272.49 66,8032/15/2024
Braze, Inc. stock logo
BRZE
Braze
Phillip M Fernandez (Director)Sell1,500$89,865.00 11,0562/15/2024
Brunswick Co. stock logo
BC
Brunswick
Ryan M Gwillim (CFO)Sell9,036$787,035.60 28,9662/16/2024
Brunswick Co. stock logo
BC
Brunswick
John G Buelow (EVP)Sell2,426$211,353.12 14,1992/16/2024
Cadence Design Systems, Inc. stock logo
CDNS
Cadence Design Systems
Thomas P Beckley (VP)Sell65,268$19,383,290.64 156,1562/15/2024
Cal-Maine Foods, Inc. stock logo
CALM
Cal-Maine Foods
Charles Jeff Hardin (EVP)Sell750$42,382.50 3,9992/20/2024
Carlisle Companies Incorporated stock logo
CSL
Carlisle Companies
D Christian Koch (CEO)Sell6,454$2,242,958.62 86,6522/15/2024
Carnival Co. & plc stock logo
CUK
Carnival Co. &
David Bernstein (CFO)Sell153,995$2,366,903.15 181,9812/15/2024
Carnival Co. & plc stock logo
CCL
Carnival Co. &
David Bernstein (CFO)Sell153,995$2,366,903.15 181,9812/15/2024
CBRE Group, Inc. stock logo
CBRE
CBRE Group
Chandra Dhandapani (CEO)Sell11,925$1,121,307.75 127,0642/16/2024
Central Garden & Pet stock logo
CENT
Central Garden & Pet
John Ranelli (Director)Sell2,400$92,016.00 412/15/2024
Central Garden & Pet stock logo
CENTA
Central Garden & Pet
John Ranelli (Director)Sell2,400$92,016.00 412/15/2024
Charles River Laboratories International, Inc. stock logo
CRL
Charles River Laboratories International
Shannon M Parisotto (EVP)Sell5,882$1,418,738.40 2,5962/15/2024
Cloudflare, Inc. stock logo
NET
Cloudflare
Michelle Zatlyn (COO)Sell277,376$28,062,129.92 38,5452/15/2024
Cloudflare, Inc. stock logo
NET
Cloudflare
Michelle Zatlyn (COO)Sell25,640$2,469,644.80 230,6122/20/2024
CNO Financial Group, Inc. stock logo
CNO
CNO Financial Group
Matthew J Zimpfer (EVP)Sell3,220$86,167.20 278,9972/20/2024
Colgate-Palmolive stock logo
CL
Colgate-Palmolive
Noel R Wallace (CEO)Sell69,948$5,891,020.56 286,8812/20/2024
Colgate-Palmolive stock logo
CL
Colgate-Palmolive
Noel R Wallace (CEO)Sell29,772$2,502,634.32 301,3432/16/2024
Colgate-Palmolive stock logo
CL
Colgate-Palmolive
Jennifer Daniels (Insider)Sell5,790$486,128.40 63,2362/16/2024
Colgate-Palmolive stock logo
CL
Colgate-Palmolive
Jennifer Daniels (Insider)Sell3,538$299,562.46 59,6982/20/2024
Corcept Therapeutics Incorporated stock logo
CORT
Corcept Therapeutics
Sean Maduck (Insider)Sell27,068$702,955.96 74,4552/16/2024
Coursera, Inc. stock logo
COUR
Coursera
Jeffrey Nacey Maggioncalda (CEO)Sell50,000$842,500.00 2,524,5252/15/2024
Coursera, Inc. stock logo
COUR
Coursera
Shravan Goli (COO)Sell35,450$584,216.00 737,6412/20/2024
Coursera, Inc. stock logo
COUR
Coursera
Amanda Clark (Director)Sell1,562$26,319.70 67,2522/15/2024
Coursera, Inc. stock logo
COUR
Coursera
Alan B Cardenas (SVP)Sell5,864$96,990.56 167,7982/20/2024
Coursera, Inc. stock logo
COUR
Coursera
Michele M Meyers (CAO)Sell2,540$42,824.40 206,0592/15/2024
Credo Technology Group Holding Ltd stock logo
CRDO
Credo Technology Group
William Joseph Brennan (CEO)Sell15,000$335,850.00 3,112,5002/15/2024
Credo Technology Group Holding Ltd stock logo
CRDO
Credo Technology Group
William Joseph Brennan (CEO)Sell15,000$335,850.00 3,112,5002/15/2024
Credo Technology Group Holding Ltd stock logo
CRDO
Credo Technology Group
Yat Tung Lam (COO)Sell130,000$2,752,100.00 1,731,9232/20/2024
Crocs, Inc. stock logo
CROX
Crocs
Ian Bickley (Director)Sell16,785$2,015,039.25 31,8152/16/2024
Cullen/Frost Bankers, Inc. stock logo
CFR
Cullen/Frost Bankers
Paul Bracher (Insider)Sell9,820$1,074,308.00 96,3802/16/2024
DaVita Inc. stock logo
DVA
DaVita
James O Hearty (Insider)Sell26,164$3,130,260.96 20,2642/16/2024
Day One Biopharmaceuticals, Inc. stock logo
DAWN
Day One Biopharmaceuticals
Jeremy Bender (CEO)Sell7,615$116,128.75 721,8132/16/2024
Day One Biopharmaceuticals, Inc. stock logo
DAWN
Day One Biopharmaceuticals
Charles N York II (CFO)Sell2,666$40,656.50 277,7542/16/2024
Day One Biopharmaceuticals, Inc. stock logo
DAWN
Day One Biopharmaceuticals
Adam Dubow (General Counsel)Sell3,242$49,440.50 16,5852/16/2024
Day One Biopharmaceuticals, Inc. stock logo
DAWN
Day One Biopharmaceuticals
Samuel C Blackman (Insider)Sell2,258$34,434.50 1,244,6622/16/2024
Denali Therapeutics Inc. stock logo
DNLI
Denali Therapeutics
Vicki L Sato (Director)Sell1,666$30,604.42 121,3752/15/2024
DoorDash, Inc. stock logo
DASH
DoorDash
Andy Fang (Director)Sell67,000$7,408,190.00 40,9692/16/2024
DoorDash, Inc. stock logo
DASH
DoorDash
Tia Sherringham (General Counsel)Sell2,504$309,118.80 191,6312/15/2024
DTE Energy stock logo
DTE
DTE Energy
Matthew T Paul (COO)Sell5,850$625,482.00 6,9512/15/2024
Dynatrace, Inc. stock logo
DT
Dynatrace
Rick M Mcconnell (CEO)Sell1,991$103,352.81 514,1062/16/2024
Dynatrace, Inc. stock logo
DT
Dynatrace
Matthias Dollentz-Scharer (Insider)Sell2,076$107,765.16 72,6452/16/2024
Dyne Therapeutics, Inc. stock logo
DYN
Dyne Therapeutics
Jason P Rhodes (Director)Sell177,906$4,250,174.34 7,148,2112/15/2024
Dyne Therapeutics, Inc. stock logo
DYN
Dyne Therapeutics
Jason P Rhodes (Director)Sell169,539$3,851,926.08 6,815,9652/20/2024
Dyne Therapeutics, Inc. stock logo
DYN
Dyne Therapeutics
Venture Fund Xi L.P. Atlas (Major Shareholder)Sell162,707$3,765,039.98 6,985,5042/16/2024
Electronic Arts Inc. stock logo
EA
Electronic Arts
Stuart Canfield (CFO)Sell1,500$210,390.00 4,8942/20/2024
FirstCash Holdings, Inc. stock logo
FCFS
FirstCash
Douglas Richard Rippel (Director)Sell31,930$3,821,382.40 5,767,2382/16/2024
FirstCash Holdings, Inc. stock logo
FCFS
FirstCash
Douglas Richard Rippel (Director)Sell28,412$3,357,161.92 5,738,8262/20/2024
Fortive Co. stock logo
FTV
Fortive
Tamara S Newcombe (CEO)Sell5,000$425,000.00 55,0172/16/2024
FVCBankcorp, Inc. stock logo
FVCB
FVCBankcorp
William G Byers (Insider)Sell4,450$53,578.00 40,2902/15/2024
Garrett Motion Inc. stock logo
GTX
Garrett Motion
Cyrus Capital Partners, L.P. (Major Shareholder)Sell29,860$274,712.00 29,527,2842/15/2024
Gartner, Inc. stock logo
IT
Gartner
Valentin Sribar (EVP)Sell682$308,946.00 12,2692/16/2024
Gates Industrial Corp PLC stock logo
GTES
Gates Industrial
Neil P Simpkins (Director)Buy1,000,000$12,200,000.00 1,000,0002/16/2024
Greenwich LifeSciences, Inc. stock logo
GLSI
Greenwich LifeSciences
Snehal Patel (CEO)Buy12,700$140,589.00 5,325,3772/15/2024
Ichor Holdings, Ltd. stock logo
ICHR
Ichor
Thomas M Rohrs (Director)Sell50,000$2,268,500.00 43,7642/16/2024
Ichor Holdings, Ltd. stock logo
ICHR
Ichor
Philip Ryan Sr. Barros (CTO)Sell7,226$327,988.14 50,4902/16/2024
Ichor Holdings, Ltd. stock logo
ICHR
Ichor
Christopher Smith (Insider)Sell23,433$1,056,359.64 70,3292/16/2024
Impinj, Inc. stock logo
PI
Impinj
Cathal G Phelan (Insider)Sell10,000$1,062,300.00 21,7502/15/2024
Ingredion Incorporated stock logo
INGR
Ingredion
Larry Fernandes (SVP)Sell2,369$272,624.52 28,9662/20/2024
Interactive Brokers Group, Inc. stock logo
IBKR
Interactive Brokers Group
Earl H Nemser (Vice Chairman)Sell10,000$1,035,300.00 123,7702/15/2024
Iovance Biotherapeutics, Inc. stock logo
IOVA
Iovance Biotherapeutics
Merrill A Mcpeak (Director)Buy250,000$2,287,500.00 320,1502/20/2024
J&J Snack Foods Corp. stock logo
JJSF
J&J Snack Foods
Marjorie Shreiber Roshkoff (Director)Sell625$92,331.25 69,4592/15/2024
Jacobs Solutions Inc. stock logo
J
Jacobs Solutions
Shelette M Gustafson (EVP)Sell1,852$274,096.00 28,7912/16/2024
KeyCorp stock logo
KEY
KeyCorp
Douglas M Schosser (CAO)Sell3,326$46,564.00 19,7952/15/2024
Legacy Housing Co. stock logo
LEGH
Legacy Housing
Kenneth E Shipley (EVP)Sell34,000$829,600.00 2,892,6102/16/2024
Legacy Housing Co. stock logo
LEGH
Legacy Housing
Douglas M Shipley (Major Shareholder)Sell33,000$805,200.00 2,886,9782/16/2024
LegalZoom.com, Inc. stock logo
LZ
LegalZoom.com
Nicole Miller (EVP)Sell16,536$175,943.04 233,1982/16/2024
Levi Strauss & Co. stock logo
LEVI
Levi Strauss & Co.
Margaret E Haas (Major Shareholder)Sell9,462$170,410.622/20/2024
Lithia Motors, Inc. stock logo
LAD
Lithia Motors
Shauna Mcintyre (Director)Sell135$40,208.40 1,6622/16/2024
Lumentum Holdings Inc. stock logo
LITE
Lumentum
Matthew Joseph Sepe (CAO)Sell9,903$487,524.69 33,1882/15/2024
Marriott International, Inc. stock logo
MAR
Marriott International
Deborah Marriott Harrison (Insider)Sell37,300$9,006,458.00 9,1002/16/2024
Marriott International, Inc. stock logo
MAR
Marriott International
Rena Hozore Reiss (EVP)Sell3,563$856,509.57 36,7782/15/2024
Marriott International, Inc. stock logo
MAR
Marriott International
Eric Hippeau (Director)Sell2,600$617,240.00 1,4722/15/2024
Martin Marietta Materials, Inc. stock logo
MLM
Martin Marietta Materials
Sue W Cole (Director)Sell1,724$936,959.52 19,7932/16/2024
Maximus, Inc. stock logo
MMS
Maximus
David Mutryn (CFO)Sell8,000$671,600.00 5,1242/16/2024
McCormick & Company, Incorporated stock logo
MKC
McCormick & Company, Incorporated
Michael D Mangan (Director)Sell5,000$326,000.00 39,1812/15/2024
Mercury Systems, Inc. stock logo
MRCY
Mercury Systems
Charles Roger Iv Wells (COO)Sell1,696$50,150.72 105,4272/16/2024
Mercury Systems, Inc. stock logo
MRCY
Mercury Systems
Stephanie Georges (EVP)Sell1,409$41,664.13 38,3192/16/2024
Meritage Homes Co. stock logo
MTH
Meritage Homes
Alison Sasser (CAO)Sell231$35,340.69 1,8592/16/2024
Meta Platforms, Inc. stock logo
META
Meta Platforms
Mark Zuckerberg (CEO)Sell34,398$16,298,804.342/16/2024
Meta Platforms, Inc. stock logo
META
Meta Platforms
Mark Zuckerberg (CEO)Sell34,398$16,298,804.342/16/2024
Meta Platforms, Inc. stock logo
META
Meta Platforms
Susan J Li (CFO)Sell10,956$5,185,255.68 76,3982/15/2024
Meta Platforms, Inc. stock logo
META
Meta Platforms
Javier Olivan (COO)Sell7,556$3,576,103.68 77,5692/15/2024
Meta Platforms, Inc. stock logo
META
Meta Platforms
Nicholas Clegg (Insider)Sell2,025$958,392.00 10,0532/15/2024
Meta Platforms, Inc. stock logo
META
Meta Platforms
Andrew Bosworth (CTO)Sell8,036$3,803,278.08 18,4322/15/2024
Molina Healthcare, Inc. stock logo
MOH
Molina Healthcare
Richard M Schapiro (Director)Sell1,000$401,050.00 11,2072/20/2024
MoonLake Immunotherapeutics stock logo
MLTX
MoonLake Immunotherapeutics
Da Silva Jorge Santos (CEO)Sell20,000$1,203,600.00 3,147,5542/15/2024
MoonLake Immunotherapeutics stock logo
MLTX
MoonLake Immunotherapeutics
Da Silva Jorge Santos (CEO)Sell20,000$1,148,800.00 3,107,5542/20/2024
Morningstar, Inc. stock logo
MORN
Morningstar
Joseph D Mansueto (Chairman)Sell1,367$379,479.20 10,891,4872/16/2024
NeoGenomics, Inc. stock logo
NEO
NeoGenomics
Alicia C Olivo (General Counsel)Sell2,587$38,701.52 34,8662/15/2024
NetScout Systems, Inc. stock logo
NTCT
NetScout Systems
John Downing (EVP)Sell3,000$65,790.00 111,1152/16/2024
nVent Electric plc stock logo
NVT
nVent Electric
Jerry W Burris (Director)Sell4,008$254,067.12 43,0722/16/2024
NVR, Inc. stock logo
NVR
NVR
Paul C Saville (Chairman)Sell500$3,762,530.00 106,8602/15/2024
Old Republic International Co. stock logo
ORI
Old Republic International
Barbara Adachi (Director)Buy1,925$55,055.00 7,8452/16/2024
ON24, Inc. stock logo
ONTF
ON24
Dominique Trempont (Director)Sell4,250$34,510.00 287,1852/15/2024
O'Reilly Automotive, Inc. stock logo
ORLY
O'Reilly Automotive
David E Oreilly (Chairman)Sell10,000$10,535,800.00 216,5392/16/2024
Payoneer Global Inc. stock logo
PAYO
Payoneer Global
Tsafi Goldman (Insider)Sell61,464$333,749.52 870,8322/15/2024
PennyMac Financial Services, Inc. stock logo
PFSI
PennyMac Financial Services
Daniel Stanley Perotti (CFO)Sell11,400$1,008,900.00 257,8972/15/2024
Penske Automotive Group, Inc. stock logo
PAG
Penske Automotive Group
Greg C. Smith (Director)Sell1,604$239,605.52 51,0012/16/2024
Permian Resources Co. stock logo
PR
Permian Resources
Brent P Jensen (CAO)Sell203,687$2,963,645.85 1,062,3452/15/2024
Permian Resources Co. stock logo
PR
Permian Resources
Brent P Jensen (CAO)Sell1,853$27,127.92 1,047,6102/20/2024
Phillips 66 stock logo
PSX
Phillips 66
Robert W Pease (Director)Buy682$99,967.56 1,9002/15/2024
Prime Medicine, Inc. stock logo
PRME
Prime Medicine
Robert Nelsen (Director)Buy3,200,000$20,000,000.00 3,200,0002/15/2024
PubMatic, Inc. stock logo
PUBM
PubMatic
Paulina Klimenko (insider)Sell2,083$35,411.002/16/2024
Reinsurance Group of America, Incorporated stock logo
RGA
Reinsurance Group of America
William L Hutton (EVP)Sell1,588$272,866.04 13,6252/15/2024
Rezolute, Inc. stock logo
RZLT
Rezolute
Daron Evans (CFO)Buy41,900$54,470.00 70,9002/16/2024
Rivian Automotive, Inc. stock logo
RIVN
Rivian Automotive
Claire Mcdonough (CFO)Sell2,946$47,725.20 155,7492/16/2024
RPM International Inc. stock logo
RPM
RPM International
Matthew T Ratajczak (VP)Sell6,000$657,780.00 23,4512/15/2024
RPM International Inc. stock logo
RPM
RPM International
Frederick R Nance (Director)Sell1,835$200,106.75 8,1802/15/2024
S&P Global Inc. stock logo
SPGI
S&P Global
Douglas L Peterson (CEO)Sell6,000$2,548,440.00 162,5302/15/2024
Samsara Inc. stock logo
IOT
Samsara
Adam Eltoukhy (Insider)Sell9,344$324,704.00 431,4392/15/2024
Sanmina Co. stock logo
SANM
Sanmina
Susan A Johnson (Director)Sell1,000$60,640.00 7,8112/16/2024
Scholar Rock Holding Co. stock logo
SRRK
Scholar Rock
Junlin Ho (General Counsel)Sell3,489$54,916.86 208,7712/16/2024
Scholar Rock Holding Co. stock logo
SRRK
Scholar Rock
Mo Qatanani (Insider)Sell2,512$39,538.88 147,0192/16/2024
Scholar Rock Holding Co. stock logo
SRRK
Scholar Rock
Jay T Backstrom (CEO)Sell11,614$182,804.36 352,6712/16/2024
Shake Shack Inc. stock logo
SHAK
Shake Shack
Daniel Harris Meyer (Director)Sell30,000$2,857,500.00 550,4372/15/2024
Shockwave Medical, Inc. stock logo
SWAV
Shockwave Medical
Laura Francis (Director)Sell1,000$250,000.00 3,5512/16/2024
SoundHound AI, Inc. stock logo
SOUN
SoundHound AI
Keyvan Mohajer (CEO)Sell107,927$399,329.90 1,218,7122/15/2024
SpringWorks Therapeutics, Inc. stock logo
SWTX
SpringWorks Therapeutics
Daniel Pichl (Insider)Sell15,000$751,500.00 45,2122/16/2024
SPS Commerce, Inc. stock logo
SPSC
SPS Commerce
James J Frome (COO)Sell2,825$529,602.75 56,9302/20/2024
SPS Commerce, Inc. stock logo
SPSC
SPS Commerce
Kimberly K Nelson (CFO)Sell5,197$974,125.68 153,5182/20/2024
State Street Co. stock logo
STT
State Street
Anthony Bisegna (EVP)Sell2,606$190,238.00 17,7372/16/2024
Stem, Inc. stock logo
STEM
Stem
Saul R Laureles (Insider)Sell10,959$34,740.03 80,0032/16/2024
Stem, Inc. stock logo
STEM
Stem
Michael James Carlson (COO)Sell9,952$31,547.84 20,3672/16/2024
Stem, Inc. stock logo
STEM
Stem
Alan Russo (CRO)Sell14,390$45,616.30 158,2042/16/2024
Stem, Inc. stock logo
STEM
Stem
William John Bush (CFO)Sell20,367$64,563.39 276,8142/16/2024
Stem, Inc. stock logo
STEM
Stem
Larsh Johnson (CTO)Sell12,117$38,410.89 69,1452/16/2024
Take-Two Interactive Software, Inc. stock logo
TTWO
Take-Two Interactive Software
Michael Sheresky (Director)Sell260$40,487.20 63,6452/15/2024
Teva Pharmaceutical Industries Limited stock logo
TEVA
Teva Pharmaceutical Industries
Richard D Francis (CEO)Sell74,530$980,069.50 87,1252/15/2024
The Charles Schwab Co. stock logo
SCHW
Charles Schwab
Peter B Crawford (CFO)Sell8,000$518,080.00 29,6112/15/2024
The Charles Schwab Co. stock logo
SCHW
Charles Schwab
Charles R Schwab (Chairman)Sell71,226$4,628,977.74 61,251,0382/15/2024
The Ensign Group, Inc. stock logo
ENSG
The Ensign Group
Daren Shaw (Director)Sell6,000$718,020.00 31,3752/15/2024
The Trade Desk, Inc. stock logo
TTD
Trade Desk
Samantha Jacobson (Insider)Sell15,006$1,254,051.42 52,3872/20/2024
The Trade Desk, Inc. stock logo
TTD
Trade Desk
Laura Schenkein (CFO)Sell3,391$303,596.23 653,3662/16/2024
The Trade Desk, Inc. stock logo
TTD
Trade Desk
Jay R Grant (Insider)Sell2,136$191,236.08 139,7942/16/2024
Thermo Fisher Scientific Inc. stock logo
TMO
Thermo Fisher Scientific
Marc N Casper (CEO)Sell5,547$3,054,289.14 43,6082/15/2024
Tile Shop Holdings, Inc. stock logo
TTSH
Tile Shop
Fund 1 Investments, Llc (Major Shareholder)Buy6,900$47,610.00 5,423,7712/15/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
G Michael Sievert (CEO)Sell40,000$6,442,000.00 496,0362/15/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
G Michael Sievert (CEO)Sell40,000$6,442,000.00 496,0362/15/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
Peter Osvaldik (CFO)Sell20,000$3,226,000.00 84,0412/20/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
Michael J Katz (Insider)Sell6,655$1,072,985.65 126,6162/16/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
Telekom Ag Deutsche (Director)Sell194,910$31,279,156.80 687,202,0912/16/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
Telekom Ag Deutsche (Director)Sell194,910$31,594,911.00 687,007,1812/20/2024
T-Mobile US, Inc. stock logo
TMUS
T-Mobile US
Mark Wolfe Nelson (EVP)Sell13,872$2,223,265.44 107,3282/16/2024
Topgolf Callaway Brands Corp. stock logo
MODG
Topgolf Callaway Brands
Erik J Anderson (Director)Sell2,028$29,994.12 2,2422/16/2024
Topgolf Callaway Brands Corp. stock logo
MODG
Topgolf Callaway Brands
Erik J Anderson (Director)Sell5,000$72,750.00 777,9592/20/2024
Tractor Supply stock logo
TSCO
Tractor Supply
Matthew L Rubin (SVP)Sell725$172,615.25 5,7102/15/2024
TransDigm Group Incorporated stock logo
TDG
TransDigm Group
Joel Reiss (COO)Sell3,000$3,421,440.00 3,6002/15/2024
TransDigm Group Incorporated stock logo
TDG
TransDigm Group
W Nicholas Howley (Director)Sell2,391$2,774,875.05 21,5492/16/2024
Twilio Inc. stock logo
TWLO
Twilio
Dana Wagner (Insider)Sell1,666$104,824.72 130,4562/15/2024
Twilio Inc. stock logo
TWLO
Twilio
Aidan Viggiano (CFO)Sell1,694$106,738.94 167,1012/15/2024
U.S. Bancorp stock logo
USB
U.S. Bancorp
James L Chosy (EVP)Sell21,582$895,005.54 164,8802/16/2024
Utz Brands, Inc. stock logo
UTZ
Utz Brands
Roger K Deromedi (Director)Sell32,052$612,193.20 3,516,6522/15/2024
Utz Brands, Inc. stock logo
UTZ
Utz Brands
Roger K Deromedi (Director)Sell7,010$133,680.70 3,440,3472/20/2024
Vacasa, Inc. stock logo
VCSA
Vacasa
Mossytree Inc. (Major Shareholder)Sell12,500$114,875.00 287,5052/16/2024
Veralto Co. stock logo
VLTO
Veralto
Mattias Bystrom (Insider)Sell500$43,050.00 30,3102/16/2024
Verizon Communications Inc. stock logo
VZ
Verizon Communications
Kyle Malady (CEO)Sell15,000$604,950.00 59,2012/15/2024
Vir Biotechnology, Inc. stock logo
VIR
Vir Biotechnology
George A Scangos (Director)Sell10,878$111,390.72 157,6112/16/2024
Vir Biotechnology, Inc. stock logo
VIR
Vir Biotechnology
George A Scangos (Director)Sell16,872$172,431.84 140,7392/20/2024
Woodward, Inc. stock logo
WWD
Woodward
John D Cohn (Director)Sell1,500$208,290.00 20,5312/15/2024
Zions Bancorporation, National Association stock logo
ZION
Zions Bancorporation, National Association
Steven Dan Stephens (EVP)Sell7,500$306,075.00 44,0562/16/2024
Insider Trading - What You Need to Know

In a digital world, insider trading is becoming easier, and harder, to define


According to the Securities & Exchange Commission (SEC) insider trading “refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.”

That definition would seem to imply that insider trading violations only occur when someone acts on the information. However, the SEC also says that insider trading violations also include the act of “tipping” inside information.

This is because for something to constitute insider trading individuals must have access to information that the general public does not have the ability to access. And, the individuals then act on that information to inform trading usually of specific equities.

Continue reading this article to help you understand the topic of insider trading. We’ll define insider trading and look at important specifics such as what makes someone an insider, why insider trading is harmful to markets and to the point we just made under what conditions insider trading can be legal.

There are three conditions that have to be met for an act of insider trading to be illegal:

  1. Information must be passed along by an insider.
  2. The individual(s) receiving the information must act upon (traded) that information.
  3. The trading activity must take place before the tipped information is available to the general public.

That last point is a key one to understand. In many cases, the information used for a trade becomes public knowledge. The point is that if an individual were to find out something days or weeks before the general public, they could prepare a trade to maximize their own gain.

Two recent high-profile cases illustrate the relationship between insiders and insider trading. The first involved American retail businesswoman, writer, and television personality Martha Stewart. In this case, Stewart received a tip from her broker who worked at Merrill Lynch. Stewart did not work for the company in question nor did she work for Merrill Lynch. However, she was an existing shareholder of the stock in question.

Stewart was convicted of insider trading based on evidence that she had made trades before the information that was tipped to her became public. She served five months in prison and two years of probation including five months under house arrest.

The other case involves Mychal Kendricks a professional football player. Kendricks entered and exited trades based on information he received from an acquaintance who was a broker with Goldman Sachs. This case was a bit greyer because Kendricks was not a client of the broker. Nevertheless, he was given access to confidential information that could materially affect the price of the securities he traded prior to that information being released to the public. Kendricks served one day in prison, was sentenced to three years of probation and 300 hours of community service.

Once again, let’s look at what the SEC has to say about this. The commission says the definition of who is an insider “can include officers, directors, major stockholders and employees of an entity whose securities are publicly traded.” This is a broad definition that is intended to presume that insiders should put the company’s interest ahead of their own.

The SEC policy states that, in general, “an insider must not trade for personal gain in the securities of that entity if that person possesses material, nonpublic information about the entity.” They go on to say that individuals “must not disclose that information to family, friends, business or social acquaintances, employees or independent contractors of the entity.” However, an insider may make trades or discuss the information after it has been made public.

As it relates to insider trading, the definition of “insider” expands even more. In fact, any individual who buys or sells shares of a security based on inside information can be guilty of insider trading.

The first reason that insider trading is harmful relates to the insider’s fiduciary duty. A common question that gets asked is why shouldn’t individuals benefit from having insider information? The answer is they are supposed to put the company’s interests ahead of their own. This includes brokers and analysts who have access to this information. When that information is traded on, they are allowing that information to be used to benefit others ahead of the company.

This idea of benefiting some to the exclusion of others leads to the second fundamental harm of insider trading. It violates the principle of transparency. When the market is functioning properly both retail and institutional investors have access to the same information. At times, you already hear retail traders claiming the market is a rigged game. If insider trading was allowed to proceed without any consequences, retail investors would lose even more confidence in the market.

In reality, it’s not but it has to do with intent of the person giving the information. In the case Dirks v. SEC, the Supreme Court determined, “the mere disclosure of material, nonpublic information, by itself, does not necessarily constitute a breach of an insider’s fiduciary duties.”

What does that mean in plain terms? If someone overhears a conversation in which insider information is disclosed, they can act on the information if they were not aware that it was confidential. This was the premise behind the ruling in the Dirks v. SEC case.

At that time, Barry Switzer was the head football coach at the University of Oklahoma. Switzer overheard a conversation between the former CEO of Texas International and his spouse while at a track meet in Texas. The former CEO had no idea that Switzer heard the information and Switzer had no idea the information was confidential. The case went to trial and the Supreme Court ruled that the CEO did not breach his fiduciary duties. However, this was only because the CEO was engaged in what he had reason to believe was a private conversation. If he was relaying that information to Switzer himself, even if he believed the information wouldn’t be acted on, it would have met the standard for insider trading.

The key definition of insider trading stems from the word trading, which constitutes an action. Here’s a hypothetical example.  Jane is an executive at XYZ Company. She knows that the company is going to acquire another company and shares that information with family and friends before it becomes public information.

In and of itself, that does not constitute insider trading. It does, however, become insider trading if anyone who is privy to that information uses it to make enter and/or exit trades prior to the information going public.

The same logic goes for those that receive the information. If they don’t act on it, then it’s just information. If they make trades based on it, then it constitutes insider trading.

However, this serves to clarify the importance of the insider not disclosing the information. They may trust their family members and close friends to not trade the news. However, once the information is out, they have less control of who else may hear about it and act on it.

With every example we’ve discussed, how can insider trading ever be legal? The answer is only under very restrictive conditions. First, the trade must be reported to the SEC via a Form 4 within two business days of when the trade occurred. This will make the trade part of the public record. Additionally, the trader must list all the company’s directors and officers along with any share interest they have in a Form 14a filing.

Although insider selling frequently draws the attention of retail investors, the reality is that company insiders sell company stock. And they can do so for a lot of reasons, many being personal.

Information about insider trades is available on many financial websites. However, the best place to look is the SEC’s EDGAR (Electronic Data Gathering, Analysis and Retrieval) database. Furthermore, SEC rules prevent insiders from trading company stock within any six-month period.

With that in mind, it’s more telling when insiders buy their company’s stock. To do so under those conditions, an investor could not be blamed for presuming the company’s outlook was good.

Insider trading seems simple enough to understand, and yet it’s one of the more misunderstood terms in the financial world. It’s not as abstract as “you know when you see it” but whether something constitutes insider trading really comes down to access and intent.

The everyday retail trader or investor has access to more information than ever before. And there are professional traders and analysts who publish content to keep fueling this news cycle. In a certain way, that makes defining insider trading a little easier. Simply put, there’s a lot of information, including speculative rumors, that is found in the public domain.

In the end, there are two basic questions that have to be asked. One is the information idle speculation or is it credible information from someone with access? Second, is the information in the public domain?

In the case of illegal insider trading, the intent is to act on inside information before the public has knowledge of it. In this way, a select few “insiders” can profit from the information.

However, legal insider trading has always existed. And if properly disclosed, it can be a benefit to retail and institutional investors as a supplement to fundamental or technical analysis.

 

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