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Boynton Aaron: insider trades

Officer at Nutanix, Inc. No open-market purchases and 13 sales not made under a pre-set plan, reported from March 18, 2020 to June 17, 2022.

What happened after Boynton Aaron’s sales?

After their sales, the shares moved −7.1% against the index over 12 months on average (a negative figure means selling was the right call); 54% 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 +3.9% 0.0% 46% 3 — — Not enough years
Sales, 12 months after the report 13 −7.1% −15.5% 54% 3 — — Not enough years
Sales, 12 months after the trade 13 −2.4% −25.0% 54% 3 — — Not enough years

“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
Nutanix, Inc. NTNX Chief Accounting Officer013March 18, 2020June 17, 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 17, 2022June 16, 2022 NTNX Sale $40,317 +51.1%+74.4%+89.9%
March 17, 2022March 16, 2022 NTNX Sale $67,797 −27.5%+6.8%+15.6%
December 20, 2021December 16, 2021 NTNX Sale $128,641 −13.9%+5.0%+18.4%
September 17, 2021September 16, 2021 NTNX Sale $138,869 −30.8%−34.8%−32.8%
June 23, 2021June 22, 2021 NTNX Sale $483,080 +2.7%−54.0%−52.7%
June 21, 2021June 16, 2021 NTNX Sale $102,376 0.0%−52.7%−53.0%
June 8, 2021June 8, 2021 NTNX Sale $69,700 +16.9%−52.7%−53.4%
March 18, 2021March 16, 2021 NTNX Sale $85,007 +33.9%−15.5%−25.5%
December 18, 2020December 16, 2020 NTNX Sale $92,652 −22.9%−29.6%−29.3%
December 15, 2020December 11, 2020 NTNX Sale $154,841 −21.4%−29.3%−25.0%
September 18, 2020September 16, 2020 NTNX Sale $49,449 +42.2%+50.5%+42.6%
June 18, 2020June 16, 2020 NTNX Sale $46,702 −12.6%+18.2%+23.9%
March 18, 2020March 16, 2020 NTNX Sale $37,868 +32.7%+21.0%+50.2%

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