Quantora · Research

Insider Trades

When a company's own officers, directors or 10%+ owners buy or sell its stock, they must tell the SEC within two business days on a Form 4. Quantora reads those filings straight from EDGAR and shows you the net insider flow, open-market buys versus sells, and every transaction - with the codes that separate real conviction from routine grants.

Not every insider transaction means the same thing. An open-market purchase (code P) is the strongest signal - an insider choosing to put their own cash into the stock. An open-market sale (S) can be conviction or just diversification. But a lot of Form 4 activity is mechanical: A is a stock grant or award, M is exercising options, and F is shares automatically withheld to pay taxes on vesting - none of those are discretionary bets. That's why the headline number here counts only open-market buys and sells, and why "cluster buys" - several different insiders buying at once - are one of the most-watched setups in the market. Everything is pulled live from EDGAR, so it's as authoritative as it gets.
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Form 4 data from the SEC EDGAR system via Quantora's server (public domain, no key). Insiders (officers, directors, 10%+ owners) must report within two business days under Exchange Act §16(a). Codes: P open-market buy, S open-market sale, A grant/award, M option exercise, F tax withholding, G gift, C conversion. Grants, tax-withholding and option mechanics are not discretionary open-market trades. Insider activity is suggestive, not predictive - following insiders is not investment advice. For information and education only.