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Andrews Thomas J: insider trades

Officer at Alexandria Real Estate Equities. No open-market purchases and 24 sales not made under a pre-set plan, reported from March 4, 2014 to August 11, 2020.

What happened after Andrews Thomas J’s sales?

After their sales, the shares moved −3.7% against the index over 12 months on average (a negative figure means selling was the right call); 71% 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 24 −2.1% −1.6% 58% 7 −0.59 0.57 No reliable evidence
Sales, 12 months after the report 24 −3.7% −6.8% 71% 7 0.41 0.69 No reliable evidence
Sales, 12 months after the trade 24 −4.0% −7.8% 71% 7 0.36 0.73 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
Alexandria Real Estate Equities ARE Co-President024March 4, 2014August 11, 2020

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
August 11, 2020August 7, 2020 ARE Sale $2,616,573 −11.4%−12.8%−12.0%
August 5, 2020August 3, 2020 ARE Sale $877,400 −11.6%−11.9%−17.0%
February 21, 2020February 19, 2020 ARE Sale $644,850 −3.4%−21.6%−15.5%
February 14, 2020February 12, 2020 ARE Sale $2,813,362 −3.9%−18.6%−16.1%
August 9, 2019August 7, 2019 ARE Sale $1,450,600 +0.7%+5.9%+5.6%
February 19, 2019February 14, 2019 ARE Sale $3,354,500 +5.6%+5.1%+8.8%
August 30, 2018August 28, 2018 ARE Sale $1,277,000 +2.4%+19.2%+17.0%
November 24, 2017November 21, 2017 ARE Sale $639,050 −8.9%−5.9%−5.6%
November 20, 2017November 16, 2017 ARE Sale $631,400 −9.7%−5.6%−7.5%
November 6, 2017November 2, 2017 ARE Sale $626,300 −8.6%−8.2%−8.2%
September 13, 2017September 11, 2017 ARE Sale $602,050 +2.2%−10.3%−8.7%
September 7, 2017September 5, 2017 ARE Sale $602,900 +0.5%−9.1%−10.7%
March 1, 2017February 27, 2017 ARE Sale $603,000 −1.0%−6.5%−14.7%
February 27, 2017February 23, 2017 ARE Sale $1,192,600 −3.8%−12.5%−12.2%
September 23, 2016September 21, 2016 ARE Sale $1,107,450 −9.2%−10.8%−6.5%
September 8, 2016September 6, 2016 ARE Sale $560,100 −1.3%−2.6%−4.7%
August 25, 2016August 23, 2016 ARE Sale $548,000 +1.7%−1.4%−0.4%
May 31, 2016May 26, 2016 ARE Sale $445,648 +11.0%+7.9%+7.5%
May 26, 2016May 25, 2016 ARE Sale $491,350 +9.1%+7.6%+5.2%
May 24, 2016May 20, 2016 ARE Sale $513,540 +7.2%+5.2%+8.1%
March 24, 2015March 20, 2015 ARE Sale $899,640 −11.2%−8.6%−10.5%
March 16, 2015March 12, 2015 ARE Sale $583,200 −6.8%−7.1%−9.3%
February 24, 2015February 20, 2015 ARE Sale $478,650 −1.9%−9.9%−12.0%
March 4, 2014February 28, 2014 ARE Sale $1,452,800 +2.2%+23.5%+23.5%

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