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Insider Trading: Vornado Realty Trust Sells 40% of Stake in JC Penney, While Insiders Buy at Tiffany, Vistaprint, and Zygo

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Plus, a purchase at Opko Health and sales at Warner Chilcott and Google.

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In a victory for common sense, the trading behavior of company executives, directors, and large shareholders in the stocks of firms they're registered "insiders" at have been proven profitable to monitor by both academic studies and (more importantly) the experience of your fellow professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Wednesday, March 6, 2013 as ranked by dollar value.

Please note, however, that these are factual lists, not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

In insider purchases, Qatar's sovereign wealth fund, the Qatar Investment Authority, bought $103,534,208 worth of stock in Tiffany & Co (NYSE:TIF), raising its stake in the jewelry company to 11.27%. At Vistaprint (NASDAQ:VPRT), the online provider of marketing products and services, Beneficial Owner Prescott General Partners LLC bought $3,385,100 worth of company stock. Mak Capital One, a Beneficial Owner of ultra-high precision measurement solutions company Zygo (NASDAQ:ZIGO), bought $1,802,480 worth of company stock. At pharmaceutical and diagnostics company Opko Health (NYSE:OPK), Chairman and CEO Phillip Frost bought $378,473 worth of company stock.

In insider sales, Vornado Realty Trust, a Beneficial Owner of JC Penney Company (NYSE:JCP), sold $160,300,000 worth of the troubled department store's stock, cutting its stake in the company by about 40%. At specialty pharmaceutical company Warner Chilcott Plc (NASDAQ:WCRX), Director John Connaughton sold $142,655,488 worth of company stock. Warner Chilcott develops, manufactures, and promotes branded pharmaceutical products for women's health, gastroenterology, urology, and dermatology markets. Sergey Brin, a Co-Founder and Director of Google (NASDAQ:GOOG), sold $69,642,768 worth of company stock.

At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
B
$103,534,208
2
BO
B
$3,385,100
3
BO
B
$1,802,480
4
DIR
B
$1,258,110
5
CEO,CB,BO
B
$378,473
6
CB,DIR,DIR
JB*
$362,999
7
CB,CEO
B
$257,832
8
BO
B
$218,700
9
DIR
B
$199,058
10
PR,COO
B
$159,867

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO,DIR
JS*
$160,300,000
2
DIR
JS*
$142,655,488
3
F,DIR,BO
AS
$69,642,768
4
CEO,DIR
S
$16,814,070
5
CEO
S
$14,830,722
6
PT,BO
JS*
$13,310,000
7
BO
S
$13,090,254
8
BO
S
$12,121,635
9
DIR,BO
S
$8,887,925
10
BO
S
$6,148,602

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

Editor's note: Jonathan Moreland is the founder of Insider Insights and author of "Profit From Legal Insider Trading."
No positions in stocks mentioned.
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