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Holder Randall J: insider trades

Officer at Diamondback Energy. No open-market purchases and 12 sales not made under a pre-set plan, reported from September 18, 2013 to September 18, 2019.

What happened after Holder Randall J’s sales?

After their sales, the shares moved −11.8% against the index over 12 months on average (a negative figure means selling was the right call); 50% 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 12 +1.6% −0.3% 58% 7 0.99 0.36 No reliable evidence
Sales, 12 months after the report 12 −11.8% +2.1% 50% 7 −0.25 0.81 No reliable evidence
Sales, 12 months after the trade 12 −13.3% −3.1% 58% 7 −0.34 0.75 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
Diamondback Energy FANG Executive Vice President012September 18, 2013September 18, 2019

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
September 18, 2019September 16, 2019 FANG Sale $309,630 −17.0%−76.8%−85.8%
August 20, 2019August 19, 2019 FANG Sale $300,000 −32.9%−76.3%−72.5%
March 19, 2019March 18, 2019 FANG Sale $416,520 −4.9%−68.7%−71.2%
February 26, 2018February 22, 2018 FANG Sale $883,948 −2.4%−21.5%−19.6%
February 21, 2018February 16, 2018 FANG Sale $843,809 +3.7%−19.6%−17.6%
February 23, 2017February 21, 2017 FANG Sale $1,771,910 −3.3%+7.5%−3.2%
February 23, 2016February 19, 2016 FANG Sale $1,386,820 +14.5%+15.8%+24.2%
November 19, 2015November 18, 2015 FANG Sale $1,345,357 −0.3%+22.2%+13.1%
March 12, 2015March 10, 2015 FANG Sale $292,243 +13.3%+8.7%+10.4%
March 12, 2014March 10, 2014 FANG Sale $143,572 +28.7%−3.3%−3.0%
November 20, 2013November 18, 2013 FANG Sale $864,406 +19.9%+17.7%+11.4%
September 18, 2013September 16, 2013 FANG Sale $748,002 −0.4%+52.6%+54.5%

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 Holder Randall J traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.