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Top Insider Trades: BlackRock Sees a Huge Buy

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Top sales were non open-market, including Accenture and Sourcefire.

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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 Monday, October 22, 2012 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.

Over two days at the end of last week, James Grosfeld, a director at BlackRock (NYSE:BLK) since 1999, made $57 million in purchases of the stock, all via open market purchase. Although significant, the purchase was not the largest insider transaction for the stock this year, according to the SEC. That distinction went to Barclays' (NYSE:BCS) $5.5 billion sales of the global asset manager's stock earlier this year. BlackRock merged with Barclays Global Investors in 2009.

Adage Capital Group took $9.7 million worth of Puma Biotechnology (NYSE:PBYI) stock in a non open-market transaction (such as a grant of restricted shares). The investment in the mid-cap development-stage biopharmaceutical company by Adage is interesting as the company has typically held large positions in the largest cap stocks traded, such as Exxon Mobil (NYSE:XOM) and Apple (NASDAQ:AAPL).

The two largest insider sales most recently reported to the SEC were both automatic sales made through the 10b5-1 program. Accenture (NYSE:ACN) CEO Gianfranco Casati pocketed $1.4 million for his sale of the consultancy's stock while Sourcefire (NASDAQ:FIRE) CEO Martin Roesch took home $1.3 million for his sale of cyber-security technology 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.


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


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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