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Top Insider Trades 7/5/13: DVA, FSL, ACHN, CUZ

|Includes:ACHN, CUZ, DaVita HealthCare Partners Inc. (DVA), FSL

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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 Friday, July 5, 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
Berkshire Hathaway BO Davita Healthcare DVA B $73,369,512
Qvt Assoc Gp BO Achillion Pharm ACHN B $12,615,808
Frost Phillip Md CEO,CB,BO Opko Health OPK B $454,750
Washburn Halbert CEO,DIR Breitburn Energy BBEP B $447,600
Miller John V O Nuveen Muni Hi Inc NMZ B $50,480
Walsh Stephen A CIO WAM Def Op Fd DMO B $45,100
Brown J McCauley BO Brown Forman BFB JB* $28,154
Srinivasan Mallika DIR AGCO AGCO AB $25,000
Schiller Michael A VP,SO Streamline Health STRM JB* $15,000
Brown Michael H TT Babson Cap Cp Inv MCI B $13,801
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Lowe Gregg A PR,CEO,DIR Freescale Semi FSL AS $1,828,892
Clements Robert M CB,CEO,DIR Everbank Financial EVER AS $907,066
Stryker Ronda E DIR Stryker SYK AS $904,254
Thorn Bruce K VP,OO Petsmart PETM S $683,183
Oesterle William S CEO,DIR Angies List ANGI AS $679,812
Sugarman Jay CB,CEO,DIR Istar Financial SFI AS $596,200
Cousins Thomas G CB Cousins Properties CUZ AS $427,754
Fust Matthew K VP,CFO Onyx Pharm ONXX AS $205,973
Pelzer Francis J CFO Concur Tech CNQR AS $83,330
Giornelli Lillian C DIR Cousins Properties CUZ AS $82,519
Click to enlarge

Source: | Key to Insider Title and Trans Type Codes