undamentalytics Newsletter
Sign in

Darroch Ronnie: insider trades

Officer at Plexus Corp. No open-market purchases and 34 sales not made under a pre-set plan, reported from November 12, 2014 to May 3, 2023.

What happened after Darroch Ronnie’s sales?

After their sales, the shares moved −4.7% against the index over 12 months on average (a negative figure means selling was the right call); 74% 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 34 −1.0% −3.5% 62% 10 −0.35 0.73 No reliable evidence
Sales, 12 months after the report 34 −4.7% −8.7% 74% 10 −2.87 0.018 Some evidence: seller right
Sales, 12 months after the trade 34 −5.0% −8.6% 77% 10 −2.63 0.027 Some evidence: seller right

“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
Plexus Corp PLXS EVP Global Ops & Reg Pres-EMEA034November 12, 2014May 3, 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
May 3, 2023May 1, 2023 PLXS Sale $394,267 +5.6%−4.2%−6.6%
November 21, 2022November 18, 2022 PLXS Sale $297,221 −10.6%−18.8%−17.2%
November 2, 2022October 31, 2022 PLXS Sale $555,169 −11.7%−19.8%−10.9%
March 4, 2022March 3, 2022 PLXS Sale $140,489 +5.7%+25.0%+22.7%
February 11, 2022February 10, 2022 PLXS Sale $249,329 +10.4%+28.7%+32.7%
November 19, 2021November 18, 2021 PLXS Sale $245,955 −2.6%+32.9%+30.3%
November 10, 2021November 8, 2021 PLXS Sale $50,049 −10.0%+26.7%+27.8%
April 28, 2021April 26, 2021 PLXS Sale $94,170 −9.9%−15.3%−20.3%
February 18, 2021February 18, 2021 PLXS Sale $161,960 +12.8%−14.3%−13.7%
January 26, 2021January 25, 2021 PLXS Sale $291,797 +11.4%−12.9%−16.6%
November 27, 2020November 24, 2020 PLXS Sale $214,151 +10.2%−15.0%−15.2%
August 21, 2020August 20, 2020 PLXS Sale $260,172 −8.7%−17.6%−18.4%
July 29, 2020July 27, 2020 PLXS Sale $88,792 −8.0%−15.4%−19.9%
May 6, 2020May 4, 2020 PLXS Sale $101,865 +13.0%+8.6%+0.3%
January 27, 2020January 27, 2020 PLXS Sale $382,544 −5.7%−16.7%−19.9%
November 15, 2019November 14, 2019 PLXS Sale $299,360 −11.3%−17.1%−17.2%
November 7, 2019November 6, 2019 PLXS Sale $37,715 −10.3%−18.8%−19.8%
October 30, 2019October 28, 2019 PLXS Sale $246,602 −11.8%−15.7%−18.1%
August 21, 2019August 20, 2019 PLXS Sale $230,929 +25.2%+12.6%+18.1%
April 25, 2019April 23, 2019 PLXS Sale $261,912 −4.2%+2.4%−3.7%
February 5, 2019February 1, 2019 PLXS Sale $194,944 −2.9%+0.3%+1.9%
August 7, 2018August 3, 2018 PLXS Sale $138,920 +0.2%−10.2%−10.1%
May 15, 2018May 11, 2018 PLXS Sale $112,518 −0.5%−14.3%−10.0%
March 5, 2018March 2, 2018 PLXS Sale $75,825 −4.1%−7.7%−5.5%
February 22, 2018February 20, 2018 PLXS Sale $101,328 −4.9%−2.4%−5.2%
February 7, 2018February 5, 2018 PLXS Sale $348,277 −3.8%−9.4%−7.0%
November 20, 2017November 16, 2017 PLXS Sale $230,107 −9.4%−10.5%−9.6%
November 1, 2017October 30, 2017 PLXS Sale $275,744 −6.8%−8.0%−9.4%
July 26, 2017July 24, 2017 PLXS Sale $1,470,030 +4.2%−7.4%−5.3%
August 16, 2016August 15, 2016 PLXS Sale $51,054 +7.3%−4.6%−6.3%
May 3, 2016April 29, 2016 PLXS Sale $46,073 +2.0%+1.5%+6.5%
May 26, 2015May 22, 2015 PLXS Sale $69,054 −10.2%−5.8%−5.4%
February 9, 2015February 5, 2015 PLXS Sale $43,938 +9.3%−4.0%−7.7%
November 12, 2014November 11, 2014 PLXS Sale $44,718 −3.2%−11.9%−12.8%

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