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Top Insider Trades 2/20/14: ARP; CNCE, FSFR, APL

|Includes: APL, Fifth Street Senior Floating Rate Corp. (FSFR)

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 Thursday, February 20, 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
Versant Venture BO Flexion Therapeutics FLXN JB* $3,999,996
Sofinnova Partners BO Flexion Therapeutics FLXN JB* $2,999,997
Cooperman Leon G BO Atlas Resource ARP B $1,248,000
Tvm Life Science & DIR,BO Concert Pharm CNCE B $1,246,000
Marubeni DIR,BO Aircastle AYR B $558,771
Glaxosmithkline BO Concert Pharm CNCE B $490,000
Tannenbaum L M CEO,DIR Fifth St Sr FR FSFR B $423,194
Lorentzen Ole P BO Energy Recovery ERII JB* $417,420
Mueller Ineichen DIR Altisource Portfolio ASPS B $360,435
Cohen Jonathan Z VCB,DIR Atlas Pipeline LP APL B,JB* $302,270

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Ryan J Stuart DIR Calpine CPN JS* $402,000,000
Bezos Jeffrey P CB,CEO,BO Amazon Com AMZN AS $351,034,208
Explorer Coinvest BO Booz Allen BAH JS* $130,462,496
TPG Group BO Graphic Pkging GPK JS* $126,926,448
Lukis Lawrence J CB,DIR,BO Proto Labs PRLB JS* $76,000,000
Lampert Edward S BO Autonation AN S $61,522,056
Bvf Partners LP BO Ligand Pharm LGND S $31,214,110
Broadwood Part DIR Questcor Pharm QCOR AS $22,960,938
Noell Charles Iii DIR Servicenow NOW S $10,091,588
Bhutani Ashish CEO,DIR Lazard LAZ S $6,589,507

Source: | Key to Insider Title and Trans Type Codes