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Rapkin Hilary A: insider trades

Officer at WEX Inc. No open-market purchases and 13 sales not made under a pre-set plan, reported from May 6, 2010 to February 21, 2024.

What happened after Rapkin Hilary A’s sales?

After their sales, the shares moved −9.3% against the index over 12 months on average (a negative figure means selling was the right call); 54% 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 −4.0% −2.8% 69% 10 −1.25 0.24 No reliable evidence
Sales, 12 months after the report 13 −9.3% −7.0% 54% 10 −1.04 0.33 No reliable evidence
Sales, 12 months after the trade 13 −10.9% −9.9% 69% 10 −1.18 0.27 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
WEX Inc. WEX Chief Legal Officer013May 6, 2010February 21, 2024

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
February 21, 2024February 16, 2024 WEX Sale $1,290,790 −16.3%−46.9%−54.7%
November 3, 2022November 1, 2022 WEX Sale $1,016,898 +11.0%−7.0%−9.9%
February 17, 2022February 15, 2022 WEX Sale $522,570 +6.6%+22.5%+19.6%
March 2, 2021March 1, 2021 WEX Sale $5,304,180 −16.5%−38.0%−34.8%
February 20, 2020February 18, 2020 WEX Sale $240,370 −29.1%−20.3%−20.9%
May 16, 2019May 16, 2019 WEX Sale $222,784 −2.7%−38.3%−42.1%
May 9, 2019May 7, 2019 WEX Sale $287,820 −4.5%−39.7%−36.3%
August 7, 2018August 6, 2018 WEX Sale $702,046 −7.0%+3.3%−0.8%
November 3, 2014October 31, 2014 WEX Sale $200,671 −15.6%−24.7%−27.2%
May 17, 2013May 16, 2013 WEX Sale $300,186 +16.5%+11.7%+11.0%
November 30, 2012November 29, 2012 WEX Sale $179,300 −1.6%+5.7%+8.2%
November 7, 2012November 6, 2012 WEX Sale $150,075 −1.8%+5.4%−0.1%
May 6, 2010May 5, 2010 WEX Sale $134,280 +8.7%+45.4%+46.6%

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 Rapkin Hilary A traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.