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Deklich Dejan: insider trades

Officer at 8x8 Inc. No open-market purchases and 26 sales not made under a pre-set plan, reported from March 13, 2018 to January 19, 2022.

What happened after Deklich Dejan’s sales?

After their sales, the shares moved −39.7% against the index over 12 months on average (a negative figure means selling was the right call); 77% 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 26 +1.4% −17.6% 77% 5 −0.59 0.59 No reliable evidence
Sales, 12 months after the report 26 −39.7% −66.6% 77% 5 −2.43 0.072 No reliable evidence
Sales, 12 months after the trade 26 −37.1% −67.3% 73% 5 −2.27 0.086 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
8x8 Inc EGHT Chief Products Officer026March 13, 2018January 19, 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
January 19, 2022January 18, 2022 EGHT Sale $33,760 −33.2%−61.0%−57.8%
December 21, 2021December 20, 2021 EGHT Sale $37,087 −23.3%−57.6%−58.3%
November 17, 2021November 16, 2021 EGHT Sale $57,070 −29.4%−65.2%−66.5%
October 27, 2021October 26, 2021 EGHT Sale $158,010 −32.4%−67.9%−70.0%
October 26, 2021October 25, 2021 EGHT Sale $41,106 −31.3%−69.6%−70.3%
October 19, 2021October 18, 2021 EGHT Sale $59,583 −33.4%−68.4%−69.5%
September 21, 2021September 19, 2021 EGHT Sale $138,586 −35.5%−71.9%−72.0%
July 16, 2021July 16, 2021 EGHT Sale $254,907 −8.3%−74.1%−71.3%
July 1, 2021June 30, 2021 EGHT Sale $389,419 −13.4%−69.6%−70.8%
June 21, 2021June 18, 2021 EGHT Sale $39,322 −13.0%−69.4%−68.1%
April 27, 2021April 26, 2021 EGHT Sale $43,456 −29.8%−73.9%−74.3%
March 19, 2021March 18, 2021 EGHT Sale $49,832 −28.1%−78.8%−78.3%
February 17, 2021February 13, 2021 EGHT Sale $153,279 −37.6%−75.2%−73.5%
January 26, 2021January 25, 2021 EGHT Sale $58,040 −18.0%−76.9%−73.4%
December 21, 2020December 18, 2020 EGHT Sale $66,678 −11.6%−77.4%−71.4%
December 15, 2020December 14, 2020 EGHT Sale $588,887 +1.9%−73.7%−72.8%
October 29, 2020October 28, 2020 EGHT Sale $121,865 +83.5%−6.1%−0.3%
October 27, 2020October 26, 2020 EGHT Sale $30,519 +107.2%−0.3%+3.5%
September 24, 2020September 23, 2020 EGHT Sale $103,455 +114.4%+27.6%+25.4%
September 22, 2020September 19, 2020 EGHT Sale $53,511 +109.3%+25.4%+23.2%
September 21, 2020September 17, 2020 EGHT Sale $104,358 +89.3%+22.5%+28.1%
July 27, 2020July 23, 2020 EGHT Sale $21,147 −6.9%+17.8%+20.2%
April 27, 2020April 24, 2020 EGHT Sale $21,262 −17.3%+49.2%+54.8%
March 24, 2020March 20, 2020 EGHT Sale $113,011 −41.0%+15.9%+57.8%
August 19, 2019August 15, 2019 EGHT Sale $13,590 −23.4%−52.4%−56.3%
March 13, 2018March 9, 2018 EGHT Sale $183,210 −1.4%−0.8%−2.5%

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