Insider Data Shifts From Bullish to Bearish

JC Parets
July 25, 2022

We’ve seen very little insider activity the past few weeks and today is no different, as we have just a single Form 4 on our Hot List.

This lack of interest is reflected in the ratio of insider sells to insider buys, which just hit its highest level since early 2021.

This is a big departure from what was going on just last month, as this ratio was indicating more insider buying than we’ve seen in over two years.

Here’s what it looks like:Source: WhaleWisdom

In just a matter of weeks, the insider data has shifted from an extreme bullish reading (a lot of buying) to an extreme bearish reading (a lot of selling).

The fact that corporate executives and institutions are so eager to sell into the recent rally probably isn’t the best sign.

We’ll continue to monitor the ratio. But, generally, we’d expect to see more buying – or at least less selling – at a market bottom.

The only Form 4 on our list today was filed by the Founder and CEO of Joby Aviation $JOBY, JoeBen Bevirt.

Bevirt’s filing revealed a purchase of approximately 35,000 shares of stock. This brings his total ownership to over 99 million shares which is valued at over half a billion dollars.

Here’s The Hot List, with data through July 22, 2022:

In the options market, there was bullish flow in the global aluminum manufacturer Constellium $CSTM and the mid-cap gold producer Yamana Gold $AUY.

There was also bullish flow in the American software, consulting, and hardware company NCR Corporation $NCR.

Stay tuned. We'll be back Tuesday with more insider action.

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All Star Charts Team

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