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Peet Shelly: insider trades

Officer at Nordson Corporation. No open-market purchases and 16 sales not made under a pre-set plan, reported from January 8, 2010 to January 11, 2023.

What happened after Peet Shelly’s sales?

After their sales, the shares moved +1.5% against the index over 12 months on average (a negative figure means selling was the right call); 63% 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 −0.6% +0.4% 44% 10 −0.42 0.69 No reliable evidence
Sales, 12 months after the report 16 +1.5% −3.9% 63% 10 −0.96 0.36 No reliable evidence
Sales, 12 months after the trade 16 +1.2% −2.8% 63% 10 −1.03 0.33 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
Nordson Corporation NDSN Executive Vice President016January 8, 2010January 11, 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
January 11, 2023January 9, 2023 NDSN Sale $383,418 −14.1%−16.8%−19.7%
December 22, 2022December 21, 2022 NDSN Sale $397,620 −12.9%−13.3%−13.5%
June 8, 2021June 4, 2021 NDSN Sale $1,478,334 +3.2%+0.8%+0.8%
March 16, 2021March 12, 2021 NDSN Sale $2,121,039 +0.3%−1.9%−0.5%
October 13, 2020October 8, 2020 NDSN Sale $2,213,750 −9.3%−7.6%−9.5%
January 9, 2020January 8, 2020 NDSN Sale $244,095 +1.5%+7.5%+8.6%
December 18, 2019December 17, 2019 NDSN Sale $395,580 −9.3%+4.7%−0.8%
October 1, 2019September 30, 2019 NDSN Sale $732,500 +6.7%+20.9%+17.9%
March 21, 2019March 20, 2019 NDSN Sale $1,544,618 +0.6%−2.9%+1.2%
January 5, 2018January 3, 2018 NDSN Sale $2,233,532 −5.3%−12.2%−16.0%
March 9, 2017March 7, 2017 NDSN Sale $329,156 −9.9%−6.1%−5.7%
August 26, 2016August 25, 2016 NDSN Sale $538,378 +7.2%−4.8%−4.8%
January 4, 2011January 3, 2011 NDSN Sale $284,430 +20.5%−11.7%−14.1%
December 21, 2010December 20, 2010 NDSN Sale $695,460 +12.4%−12.7%−11.9%
April 13, 2010April 13, 2010 NDSN Sale $138,801 −9.0%+43.6%+49.5%
January 8, 2010January 6, 2010 NDSN Sale $132,300 +7.2%+36.3%+37.7%

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