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Wong Catherine: insider trades

Officer, Director at 2 companies we cover. No open-market purchases and 12 sales not made under a pre-set plan, reported from April 16, 2019 to June 23, 2022.

What happened after Wong Catherine’s sales?

After their sales, the shares moved −44.9% against the index over 12 months on average (a negative figure means selling was the right call); 92% 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 12 −24.8% −21.4% 92% 4 −2.42 0.094 No reliable evidence
Sales, 12 months after the report 12 −44.9% −61.1% 92% 4 −0.39 0.72 No reliable evidence
Sales, 12 months after the trade 12 −42.0% −57.6% 92% 4 −0.34 0.76 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
Huckleberry.ai, Inc. HUCK Chief Operating Officer09April 16, 2019June 23, 2022
Amplitude, Inc. AMPL —03September 30, 2021February 22, 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
June 23, 2022June 22, 2022 HUCK Sale $101,763 −44.2%−70.3%−64.3%
March 23, 2022March 17, 2022 HUCK Sale $515,362 −18.4%−64.2%−65.9%
February 22, 2022February 17, 2022 AMPL Sale $69,104 −4.2%−26.0%−11.7%
December 22, 2021December 22, 2021 HUCK Sale $261,121 −3.0%−56.6%−55.3%
November 24, 2021November 23, 2021 AMPL Sale $232,025 −63.0%−66.1%−66.7%
October 12, 2021October 8, 2021 HUCK Sale $919,169 −55.6%−68.5%−64.4%
September 30, 2021September 30, 2021 AMPL Sale $189,705 −12.6%−56.5%−56.0%
September 21, 2021September 21, 2021 HUCK Sale $357,494 −44.0%−65.9%−65.4%
June 23, 2021June 22, 2021 HUCK Sale $356,592 −3.3%−53.1%−54.9%
January 14, 2021January 12, 2021 HUCK Sale $247,680 −24.4%−60.8%−50.5%
July 17, 2020July 16, 2020 HUCK Sale $247,021 +4.1%+110.5%+109.9%
April 16, 2019April 12, 2019 HUCK Sale $254,909 −28.8%−61.4%−59.2%

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