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Grimes Scott D.: insider trades

Chief executive, Officer, Director at Cardlytics, Inc. No open-market purchases and 14 sales not made under a pre-set plan, reported from August 21, 2018 to November 8, 2022.

What happened after Grimes Scott D.’s sales?

After their sales, the shares moved +5.4% against the index over 12 months on average (a negative figure means selling was the right call); 62% 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 −0.8% −1.5% 54% 5 0.04 0.97 No reliable evidence
Sales, 12 months after the report 13 +5.4% −24.1% 62% 5 0.58 0.59 No reliable evidence
Sales, 12 months after the trade 13 +1.2% −17.6% 69% 5 0.52 0.63 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
Cardlytics, Inc. CDLX Executive Chairman014August 21, 2018November 8, 2022

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
November 8, 2022November 7, 2022 CDLX Sale $40,860 not yetnot yetnot yet
August 8, 2022August 5, 2022 CDLX Sale $140,614 −65.1%−24.1%−16.5%
May 9, 2022May 5, 2022 CDLX Sale $541,047 −50.4%−84.8%−84.5%
December 13, 2021December 10, 2021 CDLX Sale $1,251,142 −22.9%−78.6%−78.2%
November 8, 2021November 5, 2021 CDLX Sale $1,647,255 −17.2%−77.1%−77.7%
May 11, 2021May 7, 2021 CDLX Sale $540,971 −16.2%−65.7%−67.7%
November 30, 2020November 27, 2020 CDLX Sale $1,093,419 −1.5%−72.1%−71.4%
November 10, 2020November 9, 2020 CDLX Sale $14,458 +34.5%−52.9%−45.7%
August 28, 2020August 27, 2020 CDLX Sale $765,674 +52.4%−11.5%−17.5%
May 27, 2020May 27, 2020 CDLX Sale $628,226 +15.0%+31.0%+19.2%
May 22, 2020May 21, 2020 CDLX Sale $10,174 +1.7%+9.7%−1.9%
September 13, 2019September 13, 2019 CDLX Sale $8,075,000 +61.9%+97.5%+92.6%
December 12, 2018December 10, 2018 CDLX Sale $369,115 +14.0%+319.1%+311.4%
August 21, 2018August 17, 2018 CDLX Sale $29,854 −16.6%+79.3%+53.8%

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