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Woo Deborah: insider trades

Officer at Usana Health Sciences Inc. No open-market purchases and 21 sales not made under a pre-set plan, reported from September 10, 2010 to September 9, 2016.

What happened after Woo Deborah’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); 57% 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 21 −4.2% −7.3% 76% 7 −1.40 0.21 No reliable evidence
Sales, 12 months after the report 21 +0.2% −12.8% 57% 7 −0.02 0.98 No reliable evidence
Sales, 12 months after the trade 21 −0.3% −11.9% 62% 7 −0.07 0.95 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
Usana Health Sciences Inc USNA President of Asia021September 10, 2010September 9, 2016

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 9, 2016September 8, 2016 USNA Sale $148,120 −15.9%−33.9%−32.3%
August 23, 2016August 23, 2016 USNA Sale $364,162 −12.1%−29.9%−29.9%
August 22, 2016August 19, 2016 USNA Sale $611,021 −10.8%−29.9%−27.4%
August 19, 2016August 18, 2016 USNA Sale $661,127 −7.9%−28.0%−27.7%
August 28, 2015August 27, 2015 USNA Sale $229,050 −14.7%−18.1%−19.8%
June 10, 2015June 9, 2015 USNA Sale $482,811 +9.1%−12.8%−11.9%
May 15, 2015May 14, 2015 USNA Sale $442,556 +25.7%−4.6%−2.3%
May 11, 2015May 8, 2015 USNA Sale $1,771,128 +32.9%+0.1%+1.0%
June 3, 2014May 30, 2014 USNA Sale $75,044 −4.0%+71.2%+68.2%
May 13, 2014May 9, 2014 USNA Sale $793,844 −1.6%+68.3%+57.5%
May 7, 2014May 5, 2014 USNA Sale $249,352 −3.5%+65.7%+53.0%
September 11, 2013September 10, 2013 USNA Sale $105,877 −15.7%−32.0%−28.6%
August 2, 2013August 1, 2013 USNA Sale $117,810 −21.1%−35.2%−37.8%
July 29, 2013July 25, 2013 USNA Sale $941,352 −9.1%−40.4%−26.2%
August 3, 2012August 1, 2012 USNA Sale $94,680 −14.6%+46.6%+65.6%
July 30, 2012July 26, 2012 USNA Sale $336,677 −7.3%+62.4%+59.2%
February 17, 2012February 17, 2012 USNA Sale $71,800 +7.2%+4.1%+9.2%
February 14, 2012February 10, 2012 USNA Sale $87,860 +3.9%+12.2%−2.6%
October 31, 2011October 28, 2011 USNA Sale $75,391 −3.6%+8.1%+11.5%
November 1, 2010October 28, 2010 USNA Sale $69,657 −20.4%−27.3%−35.2%
September 10, 2010September 8, 2010 USNA Sale $760,468 −4.5%−43.0%−48.8%

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