Insider Trades — Where Insiders & Institutions Agree

Based on 30-day data, the top stocks by insider confidence score are: 1. SIMON PROPERTY GROUP INC. (SPG) — score 79.06 2. Aptiv PLC (APTV) — score 68.55 3. BOSTON SCIENTIFIC CORP (BSX) — score 65.1

5 stock(s) show a cluster alert (3+ distinct insiders buying in 30 days). Top tickers: SPG, APTV, BSX.

Insiders in our tracked universe (SPY/QQQ/RUT constituents) purchased approximately $1.1B across 25 stocks in the past 30 days.

CASCADE INVESTMENT, L.L.C. at REPUBLIC SERVICES, INC. (RSG) purchased $34.5M of stock on Aug 31, 2026.

The AlphaSMO confidence score (0–85) reflects the strength of an insider buying signal. A score of 55+ is High Conviction, 25–54 is Moderate, and below 25 is Low Conviction. It factors in unique buyer count, transaction size, insider seniority (CEO/CFO vs. director), and whether a cluster alert is active.

A cluster alert triggers when 3 or more distinct company insiders — directors, officers, or 10% owners — purchase shares in the same company within the observation window. Coordinated buying across multiple insiders is a stronger signal than a single transaction because each insider has a different view into company operations.

AlphaSMO tracks SEC Form 4 filings, which insiders must submit within 2 business days of any transaction. Coverage includes open-market purchases by insiders in SPY, QQQ, and Russell 2000 (RUT) constituent stocks. Transactions under $10,000 are filtered from the main feed. Derivative exercises, equity awards, and tax-withholding disposals are excluded from the confidence score.

SEC Form 4, titled "Statement of Changes in Beneficial Ownership," is the filing that a company's officers, directors, and shareholders who own more than 10% of its stock must submit to the SEC within two business days of buying or selling shares in their own company. It discloses the transaction date, number of shares, price, and the insider's resulting total ownership. Because the reporting window is only two days, Form 4 data is close to real time compared to 13F filings, which lag by up to 45 days. AlphaSMO ingests Form 4 filings from SEC EDGAR as they're published and scores each insider's activity for cluster buying and confidence, so recent purchases and sales surface within the tracker as soon as they're filed.

Insider buying is one of the more predictive signals available in public filings, though not a certainty. Because insiders can only buy or sell their own company's stock — and rarely buy simply to diversify — a purchase is read as a vote of confidence in the company's outlook. Research on Form 4 filings has found that purchases by insiders, particularly CEOs and CFOs, tend to precede positive stock performance over the following 6-12 months more often than chance would predict. The strength of the signal generally increases with the number of distinct insiders buying in a short window and the size of the purchase relative to their existing holdings, which is why cluster-buy detection is treated as a stronger signal than a single, isolated purchase.

No. Insider selling is far less predictive than insider buying because executives sell for many reasons unrelated to a company's outlook — covering taxes on vested stock, diversifying concentrated wealth, funding a large purchase, or executing a pre-scheduled 10b5-1 trading plan set up months in advance. A single sale by one insider is usually not meaningful on its own. What's worth paying closer attention to is a pattern: multiple insiders selling within a short window, sales outside a pre-set trading plan, or a sale that follows closely after a Form 144 notice of intent to sell restricted shares, since those combinations are more often associated with negative sentiment than an isolated transaction.