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Top Insider Trades 9/3/13: VRX, AB, ERII, ZIPR

Daily Top Insider Trades Instablog

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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 Tuesday, September 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
Hassan Fred DIR Valeant Pharm Intl VRX B $5,049,459
Johnsrud Mark D CEO,VCB Nuverra Environmental NES B $2,081,155
Marubeni DIR,BO Aircastle AYR B $1,948,107
Schoen Scott A DIR Alliancebernstein AB B $980,640
Hanstveit Arve DIR Energy Recovery ERII B $414,574
Herron John T DIR Duke Energy DUK B $388,043
Osmium Partners BO Ziprealty ZIPR B $387,030
Radke Jack M DIR Independent Bank IBTX B $252,391
Primis Lance R DIR Avalonbay Comms AVB B $248,852
Sarles H Jay DIR Avalonbay Comms AVB B $247,931

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Russia Partners II BO Epam Systems EPAM S $120,000,000
Deer Vi & Co DIR YELP YELP S $67,275,136
Tornier Alain DIR Tornier TRNX S $20,486,764
Hoffman Reid DIR,BO Linkedin LNKD AS $20,333,304
Thayer Equity Inv BO Roadrunner Trans RRTS JS* $16,500,712
Weiner Jeff CEO,DIR Linkedin LNKD AS $9,028,047
Vazirani Pravin A DIR,BO Carbonite CARB S $7,125,000
TPG Advisors BO Lpl Financial LPLA S $6,374,627
Throgmartin Gregg W VP,COO,DIR Hhgregg HGG S $6,130,515
Bell Leonard CEO,DIR Alexion Pharm ALXN AS $3,652,830

Source: | Key to Insider Title and Trans Type Codes