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Martin Joseph R: insider trades

Director at 2 companies we cover. No open-market purchases and 13 sales not made under a pre-set plan, reported from May 12, 2010 to August 24, 2023.

What happened after Martin Joseph R’s sales?

After their sales, the shares moved +10.6% against the index over 12 months on average (a negative figure means selling was the right call); 39% 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 13 +4.7% +7.2% 39% 9 0.92 0.39 No reliable evidence
Sales, 12 months after the report 13 +10.6% +4.2% 39% 9 0.58 0.58 No reliable evidence
Sales, 12 months after the trade 13 +8.1% +3.1% 46% 9 0.37 0.72 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
Azenta, Inc. AZTA —08May 12, 2010June 7, 2023
Allegro Microsystems, Inc. ALGM —05February 11, 2021August 24, 2023

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
August 24, 2023August 23, 2023 ALGM Sale $658,410 −29.7%−63.9%−65.1%
June 7, 2023June 6, 2023 AZTA Sale $103,368 +10.6%−5.7%−7.5%
November 7, 2022November 4, 2022 ALGM Sale $423,766 +54.7%−21.2%−18.0%
May 25, 2022May 23, 2022 ALGM Sale $200,079 −1.1%+58.4%+45.7%
November 24, 2021November 23, 2021 ALGM Sale $397,930 −2.8%+9.6%+14.2%
February 11, 2021February 9, 2021 ALGM Sale $341,434 −28.4%−23.1%−23.3%
May 22, 2020May 20, 2020 AZTA Sale $202,700 +9.6%+92.6%+96.3%
February 20, 2020February 19, 2020 AZTA Sale $248,040 +16.7%+96.1%+85.4%
August 7, 2014August 6, 2014 AZTA Sale $65,348 +9.2%+1.8%−12.5%
August 21, 2013August 20, 2013 AZTA Sale $58,376 +3.1%+4.2%+3.1%
November 21, 2012November 19, 2012 AZTA Sale $35,927 +28.4%+13.0%+12.4%
December 9, 2011December 8, 2011 AZTA Sale $49,300 +7.2%−34.2%−36.4%
May 12, 2010May 10, 2010 AZTA Sale $69,375 −16.9%+10.1%+11.2%

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 Martin Joseph R traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.