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Peer Developments Ltd: insider trades

10% owner at 2 companies we cover. No open-market purchases and 16 sales not made under a pre-set plan, reported from April 1, 2010 to October 23, 2023.

What happened after Peer Developments Ltd’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); 88% 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 16 −3.0% −2.6% 88% 6 −0.81 0.46 No reliable evidence
Sales, 12 months after the report 16 −11.8% −4.2% 88% 6 −1.73 0.14 No reliable evidence
Sales, 12 months after the trade 14 −6.1% −3.4% 93% 5 −1.44 0.22 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
TD Synnex Corp SNX —014April 1, 2010October 23, 2023
Concentrix Corp CNXC —02July 25, 2022July 25, 2022

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
October 23, 2023October 20, 2023 SNX Sale $4,791,116 +0.9%−4.4%−6.2%
July 25, 2022July 21, 2002 CNXC Sale $29,854,876 −6.6%−53.1%not yet
July 25, 2022July 21, 2002 CNXC Sale $199,125 −6.6%−53.1%not yet
January 18, 2018January 17, 2018 SNX Sale $45,474,700 −18.6%−27.0%−27.5%
October 27, 2016October 26, 2016 SNX Sale $758,746 +10.5%+9.4%+8.7%
January 23, 2012January 19, 2012 SNX Sale $338,289 −3.4%−14.9%−15.3%
January 19, 2012January 18, 2012 SNX Sale $1,451,516 −2.0%−15.5%−15.7%
April 26, 2010April 23, 2010 SNX Sale $78,346 −3.2%+0.4%−3.9%
April 22, 2010April 21, 2010 SNX Sale $876,374 −1.8%−3.9%−3.8%
April 20, 2010April 19, 2010 SNX Sale $332,326 −2.7%−3.8%−2.6%
April 16, 2010April 15, 2010 SNX Sale $784,645 −2.0%−2.6%−2.1%
April 15, 2010April 14, 2010 SNX Sale $764,356 −3.1%−3.2%−3.1%
April 15, 2010April 14, 2010 SNX Sale $114,803 −3.1%−3.2%−3.1%
April 14, 2010April 10, 2010 SNX Sale $291,896 −2.5%−2.1%−1.3%
April 2, 2010April 1, 2010 SNX Sale $93,000 −1.6%−5.6%−2.7%
April 1, 2010March 31, 2010 SNX Sale $1,548,840 −1.6%−5.6%−6.4%

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 Peer Developments Ltd traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.