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Blackford David E: insider trades

Officer at Zions Bancorporation, National Association. No open-market purchases and 39 sales not made under a pre-set plan, reported from August 23, 2010 to May 12, 2021.

What happened after Blackford David E’s sales?

After their sales, the shares moved +1.0% against the index over 12 months on average (a negative figure means selling was the right call); 49% trailed it.

With 296 insiders tested, some will look skilled or unskilled by chance alone: when we replaced each insider’s stocks with random companies bought on the same days, about 5.7 cleared the bar ahead and 23.3 behind. One record on its own proves little.

Trade by trade

MeasuredTrades countedAverage vs S&P 500MedianWent the right wayYearst-statisticp-valueEvidence
Purchases, 3 months after the report 0 — — — — — — Not enough years
Purchases, 6 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the trade 0 — — — — — — Not enough years
Sales, 3 months after the report 39 −1.6% −3.7% 59% 11 −1.48 0.17 No reliable evidence
Sales, 12 months after the report 39 +1.0% +2.3% 49% 11 −1.04 0.32 No reliable evidence
Sales, 12 months after the trade 39 −0.2% −1.9% 51% 11 −1.21 0.25 No reliable evidence

“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates, from the close on the first trading day after the report, or from the close on the trade date. Only windows that have finished are counted. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic uses one average per year of reports, because one person’s trades bunch into the same stock and weeks, and needs trades in at least four different years; the p-value comes from the t distribution with that number of years (with four years, a t of 2 has p = 0.14). “Some evidence” means p under 5%, “strong evidence” p under 1% over at least six years.

Companies traded

CompanyTitle on the latest filingPurchasesSalesFirst reportLatest report
Zions Bancorporation, National Association ZION Exec Vice President039August 23, 2010May 12, 2021

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

ReportedTradedCompanyTradeValue3 months after report12 months after report12 months after trade
May 12, 2021May 11, 2021 ZION Sale $32,211 −13.5%−4.7%−3.4%
April 26, 2021April 23, 2021 ZION Sale $43,768 −11.2%+2.7%+11.0%
February 26, 2021February 25, 2021 ZION Sale $45,948 −1.9%+18.9%+12.1%
February 25, 2021February 24, 2021 ZION Sale $52,265 −1.1%+20.1%+16.6%
February 17, 2021February 12, 2021 ZION Sale $45,541 +9.9%+35.4%+37.8%
January 26, 2021January 22, 2021 ZION Sale $186,749 +15.1%+40.0%+15.7%
May 29, 2019May 24, 2019 ZION Sale $104,318 −12.2%−33.9%−32.8%
February 28, 2019February 26, 2019 ZION Sale $102,972 −13.9%−29.2%−28.3%
February 22, 2019February 21, 2019 ZION Sale $209,441 −12.1%−28.4%−30.6%
February 14, 2019February 13, 2019 ZION Sale $107,927 −12.9%−31.1%−28.4%
June 4, 2018June 1, 2018 ZION Sale $56,842 −8.6%−24.3%−22.8%
May 24, 2018May 22, 2018 ZION Sale $359,907 −12.0%−24.1%−26.9%
February 27, 2018February 27, 2018 ZION Sale $60,098 +0.7%−10.0%−9.8%
February 15, 2018February 13, 2018 ZION Sale $105,994 +5.6%−8.7%−8.5%
February 13, 2018February 12, 2018 ZION Sale $211,799 +5.0%−10.9%−7.9%
November 30, 2017November 29, 2017 ZION Sale $247,550 +9.6%−9.0%−6.8%
July 31, 2017July 28, 2017 ZION Sale $428,398 −0.9%+2.4%+1.9%
June 1, 2017May 31, 2017 ZION Sale $82,785 +7.3%+27.1%+24.4%
May 24, 2017May 23, 2017 ZION Sale $50,599 +7.4%+26.8%+26.3%
May 16, 2017May 15, 2017 ZION Sale $38,094 +10.8%+34.1%+29.4%
February 15, 2017February 14, 2017 ZION Sale $67,042 −13.0%+5.5%+4.8%
February 14, 2017February 13, 2017 ZION Sale $182,749 −14.6%+3.9%+2.6%
January 27, 2017January 26, 2017 ZION Sale $69,644 −9.3%+2.7%−1.9%
November 30, 2016November 29, 2016 ZION Sale $1,014,299 +3.5%+2.3%+8.5%
August 1, 2016July 29, 2016 ZION Sale $45,052 +20.3%+53.4%+48.0%
May 27, 2016May 26, 2016 ZION Sale $111,474 +2.8%+26.8%+28.7%
May 2, 2016April 28, 2016 ZION Sale $111,080 −4.1%+34.6%+29.7%
July 27, 2015July 23, 2015 ZION Sale $392,189 −7.5%−14.8%−21.5%
February 4, 2015February 3, 2015 ZION Sale $76,020 +9.6%−8.3%−8.6%
October 24, 2014October 23, 2014 ZION Sale $91,836 −16.1%−5.3%−3.7%
January 31, 2014January 30, 2014 ZION Sale $204,998 −5.6%−28.8%−31.4%
August 16, 2013August 14, 2013 ZION Sale $30,104 −8.0%−23.3%−21.1%
July 26, 2013July 25, 2013 ZION Sale $139,825 −7.1%−18.1%−17.6%
November 5, 2012November 1, 2012 ZION Sale $132,530 +4.3%+7.1%+4.9%
July 30, 2012July 27, 2012 ZION Sale $64,136 +14.9%+39.2%+36.5%
April 27, 2012April 26, 2012 ZION Sale $51,494 −9.9%+4.4%+4.3%
January 30, 2012January 26, 2012 ZION Sale $33,953 +15.2%+24.8%+20.7%
January 31, 2011January 27, 2011 ZION Sale $48,550 −3.7%−33.3%−32.3%
August 23, 2010August 19, 2010 ZION Sale $94,632 −5.1%−26.8%−26.8%

Open-market purchases and sales of at least $10,000 in companies we cover, from SEC Form 4 filings; sales made under a pre-set Rule 10b5-1 plan are not shown. “Not yet” means the window has not finished or the share price was under $5 at entry. These are the shares’ moves after each trade: they say nothing about why Blackford David E traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.