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Bessette Diane J: insider trades

Chief financial officer, Officer at Lennar. No open-market purchases and 14 sales not made under a pre-set plan, reported from January 15, 2010 to December 28, 2023.

What happened after Bessette Diane J’s sales?

After their sales, the shares moved +0.2% 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 14 −1.3% −1.4% 64% 9 −0.88 0.40 No reliable evidence
Sales, 12 months after the report 14 +0.2% −1.7% 50% 9 −0.45 0.67 No reliable evidence
Sales, 12 months after the trade 14 +0.6% −1.6% 57% 9 −0.39 0.71 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
Lennar LEN VP/CFO/Treasurer014January 15, 2010December 28, 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
December 28, 2023December 26, 2023 LEN Sale $1,477,300 −0.1%−32.2%−33.3%
June 23, 2023June 22, 2023 LEN Sale $1,310,553 −6.9%−3.6%−0.3%
March 24, 2023March 23, 2023 LEN Sale $958,279 +13.4%+33.2%+28.6%
March 26, 2021March 26, 2021 LEN Sale $1,012,161 −9.4%−33.0%−34.4%
September 25, 2020September 23, 2020 LEN Sale $866,773 −13.2%−9.5%−7.4%
July 9, 2020July 8, 2020 LEN Sale $656,100 +20.1%+13.2%+13.8%
January 22, 2020January 21, 2020 LEN Sale $589,238 −23.1%+9.2%+10.3%
January 17, 2018January 16, 2018 LEN Sale $695,000 −17.8%−34.6%−29.9%
April 14, 2017April 13, 2017 LEN Sale $521,900 −2.6%−5.3%−4.7%
December 30, 2013December 30, 2013 LEN Sale $198,650 −0.3%+0.3%−2.9%
October 9, 2012October 4, 2012 LEN Sale $935,000 +8.3%−28.2%−25.4%
January 27, 2012January 25, 2012 LEN Sale $345,165 +18.6%+72.1%+68.8%
January 27, 2011January 25, 2011 LEN Sale $302,890 −10.5%+8.6%+11.6%
January 15, 2010January 13, 2010 LEN Sale $121,632 +5.7%+12.9%+12.8%

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