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Which stocks are getting attention from insiders?

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Thursday, April 26, 2012 as ranked by dollar value.

Company executives and directors are in the best position to assess the attractiveness of their firms' shares, and here is how many of them are voting their wallets!

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 further analysis of a stock's full insider history may not indicate a significant insider signal.

But at Insider Insights, we find significant insider signals just about every day using screens like these to determine where we should focus are subsequent fundamental and technical analysis. And while stocks don't (and 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.

On today's tables, the selling activity again looks less ominous than the dollar values of those transactions may imply. The continued selling by Paulson & Co of their stake in Delphi Automotive (NYSE:DLPH) certainly isn't a bullish signal, but insiders selling as their stocks hit new highs is one of the most common patterns we see on a daily basis. More often than not such insider behavior has little value for forecasting.

Director Daniel McCranie seems to think the gap down in Freescale Semiconductor (NYSE:FSL) is a buying opportunity. He chose this bout of weakness to make his first open-market purchase of FSL since he joined the board in May 2011. His is just one opinion, however, and his purchase looks pretty lonely amidst recent option-related insider sales. It will be instructive to see if other insiders also buy the gap in FSL, producing a buying cluster that relays a more unanimous bullish opinion.

These aren't the only insights you can garner from today's tables, though. So use these regular columns as the initial research tools they are meant to be, and come to InsiderInsights.com to analyze a company's or insider's full insider history. Also feel free to email with any questions on our proprietary insider data, and how it is best analyzed.

Analyst Note: We are currently in a slower filing period for Form 4sand since many firms have the trading windows closed to their insiders until March quarter earnings are released. So the dollar values of the Top 10 transactions are smaller than usual. If past is prolog, the volume of insider filings will pick up again in earnest during the first week of May.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value Shares Traded Trans Date
To
Ave Trans
Price
Direct
Holdings
Indirect
Holdings
1 Tl Investment Gmbh BO Lantronix LTRX JB* $4,500,000 1,605,709 4/25/12 $2.80 5,878,396 ---
2 Adage Capital BO Puma Biotechnology PBYI B $4,194,000 300,000 4/25/12 $13.98 --- 3,300,000
3 Akradi Bahram CB,PR,CEO Life Time Fitness LTM B $745,008 16,905 4/24/12 $44.07 2,398,296 ---
4 Barton Richard N DIR Netflix NFLX B $510,300 6,000 4/25/12 $85.05 6,343 ---
5 McCranie J Daniel DIR Freescale Semiconductor FSL B $499,938 40,300 4/25/12 $12.24 52,829 ---
6 Simmons Harold C CB,DIR,BO Valhi VHI B $188,938 3,556 4/26/12 $53.25 449,120 ---
7 Wilkins James R Jr DIR Eagle Financial EFSI B $159,600 7,600 4/25/12 $21.00 119,234 ---
8 Dahl James H BO Pope Resources POPE B $89,691 2,000 4/24/12 $44.85 --- 125,084
9 Marchionne Sergio DIR Philip Morris International PM B $86,830 1,000 4/24/12 $86.83 37,971 ---
10 Sheridan Stanley Michael DIR National Beverage FIZZ B $83,880 6,000 4/24/12 $13.98 --- 32,704

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

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value Shares Traded Trans Date
To
Ave Trans
Price
Direct
Holdings
Indirect
Holdings
1 Gates William H III DIR Microsoft MSFT AS $112,004,896 3,500,000 4/24/12 $32.00 495,481,728 ---
2 Paulson & Co BO Delphi Automotive DLPH S $75,599,352 2,453,000 4/26/12 $30.70 614,057 1,202,212
3 Schwab Charles R CB,DIR,BO Schwab Charles SCHW S $31,163,450 2,250,000 4/25/12 $13.93 --- 127,518,520
4 Foster Paul L CB,DIR,BO Western Refining WNR AS $5,485,945 300,000 4/25/12 $18.13 6,100,545 16,804,580
5 Barnello Michael D PR,CEO,DIR Lasalle Hotel Properties LHO S $3,659,133 125,914 4/25/12 $29.07 198,484 ---
6 Taylor Anthony DIR Montpelier Re Holdings MRH S $2,059,340 100,000 4/26/12 $20.59 1,074,189 ---
7 Gull Holdings BO Usana Health Sciences USNA S $2,040,500 50,000 4/26/12 $40.81 7,400,040 ---
8 Prezzano Wilbur J DIR Roper Industries ROP S $1,401,648 14,000 4/25/12 $100.20 22,000 ---
9 Parker Jefferson G VCB Iberiabank IBKC S $728,480 14,249 4/25/12 $51.12 31,728 ---
10 White J Scott VP Abbott Laboratories ABT AS $689,866 11,368 4/24/12 $60.70 71,666 ---

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

Source: Top Insider Trades 4/26/12