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Top Insider Trades 2/13/14: THRX, AYR, SFLY, JEC

|Includes: AYR, Innoviva, Inc. (INVA), JEC, SFLY

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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 Thursday, February 13, 2014 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
Glaxosmithkline BO Theravance THRX B $12,850,699
Index Venture BO Egalet EGLT B,JB* $4,449,996
Flagship Ventures BO Eleven Biotherap EBIO JB* $3,787,290
Danish Biotech BO Egalet EGLT B,JB* $2,874,996
Marubeni DIR,BO Aircastle AYR B $1,100,166
Schoendorf Nancy DIR Shutterfly SFLY B $670,623
Thompson Chris DIR Jacobs Eng JEC B $607,100
Najafi Jahm J DIR,BO Xhibit XBTC JB* $500,000
Frost Phillip Md CEO,CB,BO Opko Health OPK B $169,147
Heinrich Daniel J DIR Aramark ARMK B $100,125

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Cd & R Assoc VIII BO Envision Healthcare EVHC JS* $906,242,368
Apollo Mgt Gp BO Athlon Energy ATHL JS* $494,592,000
Willis Stein & Part BO Roundy S RNDY JS* $48,284,928
Page Lawrence CEO,DIR,BO Google GOOG AS $39,639,428
Oreilly David E CB,DIR O Reilly Automotive ORLY S $11,159,752
Lowder Thomas H DIR Mid Amer Apt MAA AS $9,404,905
Strangfeld John CEO,CB,DIR Prudential Financial PRU AS $9,048,826
Tosi Laurence A CFO Blackstone BX S $6,314,282
Broadwood Part DIR Questcor Pharm QCOR AS $5,873,634
Syngenta Vent BO Marrone Bio MBII S $4,887,968

Source: | Key to Insider Title and Trans Type Codes