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Top Insider Trades 7/3/13: NDLS, NVAX, VNR, OPK

|Includes:Noodles & Company (NDLS), NVAX, OPK, VNR

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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 professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Wednesday, July 3, 2013 as ranked by dollar value.

Please note, however, that these are factual lists (with edits to remove some noise), 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.

We should also point out that we are presently in a slow filing time for insiders because many companies still have their trading windows closed to their executives until their June quarter earnings are released.

But at, 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.

So use these regular blog posts as the initial research tools they are meant to be, and click the links in the tables 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.

Insider Purchases
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Hottinger Capital FO Swiss Helvetia Fd SWZ B $1,500,788
Frost Phillip Md CEO,CB,BO Opko Health OPK B $203,902
Kinsey Keith J PR,COO,DIR Noodles NDLS JB* $180,000
Rand James T DIR Noodles NDLS JB* $135,000
Foster Vincent D CEO,PR,DIR Main Street Cap MAIN B,JB* $101,204
Phillips Barclay A DIR Novavax NVAX B $95,000
Petrilli Felix T VP,OO Noodles NDLS JB* $90,000
Robert Richard A VP,CFO Vanguard Nat Res VNR B $51,520
Smith Scott W PR,CEO,DIR Vanguard Nat Res VNR B $50,500
St Peter Steven PR,CEO,DIR Aratana Therap PETX JB* $49,998

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Av Partners VIII BO Homeaway AWAY S $31,577,610
Fpr Partners BO Viasat VSAT S $15,746,164
Artiman BO Invensense INVN S $7,397,164
Gehring Fred CEO,DIR PVH PVH AS $5,190,468
FMR BO Insmed INSM S $3,644,080
Starzer Michael R PR,CEO,DIR Bonanza Crk En BCEI AS $3,556,000
Wicki Andreas DIR Pacira Pharm PCRX AS $3,457,073
Sze David L DIR Linkedin LNKD AS $2,893,164
Auvil Paul R Iii CFO Proofpoint PFPT AS $2,808,787
Usrg Holdco V BO Ren Energy REGI AS $2,724,774

Source: | Key to Insider Title and Trans Type Codes