What is insider buying?

Insider buying refers to open-market stock purchases made by company executives, directors, or major shareholders using their own money. These trades are disclosed to the SEC via Form 4 filings within two business days. Unlike options exercises or pre-planned sales, open-market cash purchases are considered the clearest signal of personal conviction in a stock's prospects.

How do you score insider buying conviction?

Each Form 4 purchase is scored across 9 factors: transaction value (up to +3.0), compensation ratio — the purchase size relative to the insider's annual pay (+3.0), percentage increase in their ownership stake (+2.0), cluster bonus when multiple insiders buy the same stock within 30 days (+2.0), insider title weight (+1.0), and 52-week price range positioning (+1.5). Three penalties reduce the score for trades near earnings windows, routine seasonal buyers, and pre-arranged 10b5-1 plans.

What is a cluster buy in insider trading?

A cluster buy occurs when two or more corporate insiders purchase shares of the same company within a 30-day window, each acting independently. Because the probability of coincidental timing drops sharply with each additional buyer, cluster buying is considered one of the strongest insider signals available — especially when the individual purchases are also large relative to each insider's compensation.

What is a 10b5-1 plan and why does it reduce the insider score?

A 10b5-1 plan is a pre-scheduled trading arrangement that an insider sets up in advance — often months before execution. Because the decision to buy was made well before the trade date, 10b5-1 purchases do not reflect a fresh, discretionary judgment made at the current price. Our model applies a penalty to these trades to avoid overstating their informational value.

Which insider purchases are the most significant?

The highest-conviction insider purchases tend to combine three characteristics: a large dollar amount relative to the insider's annual compensation (compensation ratio), involvement of multiple insiders in the same stock around the same time (cluster behavior), and a trading price near the stock's 52-week low rather than a recent high. CEO and CFO purchases in this configuration — especially where no 10b5-1 plan is involved — historically carry the strongest forward signal.

Insider Buying Intelligence

Updated 7:52 PM EDT

Open-market insider purchases, ranked by conviction.

We score every open-market Form 4 cash buy using capital committed, role seniority, cluster behavior, and price location, while stripping out 10b5-1 plans and options exercises. The result is a cleaner signal set for real research work.

Capital Committed

Check size is normalized against compensation so token buys do not read as conviction.

Cluster Behavior

Multiple insiders buying inside one month receives the strongest lift in the model.

Price Context

Purchases made nearer weak price levels score better than late confirmation buying.

Review 94 active clusters See latest purchases

Active Clusters

Multi-insider setups currently live

Signals Today

New qualified filings today

7-Day Signals

Qualified purchases in the last week

Avg Conviction

1.9

Average score of the weekly set

Capital Tracked

$5.1M

Combined disclosed value this week

Active Cluster Board

Where multiple insiders are buying together

These are the highest-signal names on the page: two or more insiders deploying personal capital into the same stock inside a 30-day window. Ranked by conviction score, not by noise.

2+ insiders inside 30 daysPersonal capital focusClick conviction to inspect the model

Live board

Live Clusters

stocks with active multi-insider buying

Capital Deployed

$12.4M

combined disclosed value across the board

Strongest Score

4.7

highest conviction mark among active clusters

Avg Buyers

3.0

mean insider count per live setup

POOLActive cluster

POOL CORP

IndustrialsNASDAQ

Conviction

Insiders

buyers in the active window

Capital

$2.3M

combined disclosed value

Window

active since May 7

Since First Buy

-5.1%

Still near insider range

Buyer roster

Largest checks and most recent filings first

Since May 7

PEREZ DE LA MESA MANUEL J

$1.9MMay 7

STOKELY JOHN E

$193KMay 7

WHALEN DAVID G

$100KMay 8

Hope James D

$90KMay 7

Still near insider rangeNo 10b5-1 plans in cluster

Current read

Shares are still below the first cluster print, keeping the name close to the zone where insiders were willing to commit capital.

Full stock page

UPSTActive cluster

Upstart Holdings, Inc.

Financial ServicesNASDAQ

Conviction

Insiders

buyers in the active window

Capital

$6.4M

combined disclosed value

Window

active since May 7

Since First Buy

+4.4%

Above first print

Buyer roster

Largest checks and most recent filings first

Since May 7

Girouard Dave

$5.0MMay 7

Gu Paul

CEO

$1.4MMay 13

Above first printNo 10b5-1 plans in cluster

Current read

Shares are holding above the first cluster buy without looking overly stretched, which keeps the setup constructive.

Full stock page

PATKActive cluster

PATRICK INDUSTRIES INC

Consumer CyclicalNASDAQ

Conviction

Insiders

buyers in the active window

Capital

$1,000K

combined disclosed value

Window

active since May 5

Since First Buy

+0.7%

Holding near first print

Buyer roster

Largest checks and most recent filings first

Since May 5

NEMETH ANDY L

CEO

$880KMay 5

Filer Matthew S

$86KMay 5

Augsburger Blake

$34KMay 5

Holding near first printNo 10b5-1 plans in cluster

Current read

Shares are still trading almost exactly on the first cluster print, which keeps the setup close to the original insider cost basis.

Full stock page

ROCKActive cluster

GIBRALTAR INDUSTRIES, INC.

IndustrialsNASDAQ

Conviction

Insiders

buyers in the active window

Capital

$784K

combined disclosed value

Window

active since May 21

Since First Buy

+5.9%

Above first print

Buyer roster

Largest checks and most recent filings first

Since May 21

Bosway William T

President

$739KMay 26

Bolanowski Katherine

CLO / Gen. Counsel

$45KMay 21

Above first printNo 10b5-1 plans in cluster

Current read

Shares are holding above the first cluster buy without looking overly stretched, which keeps the setup constructive.

Full stock page

KRMDActive cluster

KORU Medical Systems, Inc.

HealthcareNASDAQ

Conviction

Insiders

buyers in the active window

Capital

$1.5M

combined disclosed value

Window

active since May 14

Since First Buy

-1.5%

Still near insider range

Buyer roster

Largest checks and most recent filings first

Since May 14

Tharby Linda M

CEO

$1.4MMay 15

Adams Thomas Edward

CFO

$19KMay 14

Pazdan Christopher

COO

$19KMay 14

Still near insider rangeNo 10b5-1 plans in cluster

Current read

Shares are still below the first cluster print, keeping the name close to the zone where insiders were willing to commit capital.

Full stock page

HROWActive cluster

HARROW, INC.

HealthcareNASDAQ

Conviction

Insiders

buyers in the active window

Capital

$469K

combined disclosed value

Window

active since May 14

Since First Buy

+8.0%

Above first print

Buyer roster

Largest checks and most recent filings first

Since May 14

BAUM MARK L

CEO

$302KMay 14

BOLL ANDREW R.

President

$105KMay 14

Graves Adrienne L

$31KMay 18

SILVERNAIL LAUREN P

$31KMay 18

Above first printNo 10b5-1 plans in cluster

Current read

Shares are holding above the first cluster buy without looking overly stretched, which keeps the setup constructive.

Full stock page

Signal Feed

Every qualified insider buy, ranked for actual signal

Single-name purchases still matter when you strip out grants, option exercises, and plan-driven activity. This feed keeps the tape readable, then pushes the strongest disclosures to the top by conviction score.

Open-market cash buys onlyGrants and options removedTap conviction to inspect the model

7-day board

Scored Filings

qualified purchases in the current 7-day feed

Capital Disclosed

$5.1M

combined open-market value across the feed

Average Score

1.9

mean conviction score of the weekly set

Names Covered

14 linked to active cluster activity

Refine The Feed

12 signals match the current settings. You are looking at the default 7-day ranked view.

Min ValueMin ScoreSignal TypeClusters only

Ranked Leaderboard

Showing 1-12 of 12 matching signals

Click any conviction score to open the factor breakdown.

#	Company	Insider	Value	Since Buy	Trade Date
1	SCHW SCHWAB CHARLES CORP	Wurster Richard A President	$1.8M Open-market value	+2.8%	May 28
2	RLI3x cluster RLI CORP	KELLOGG CLARK C Role not disclosed	$153K Open-market value	-1.6%	Jun 1
3	SMWB3x cluster SIMILARWEB LTD.	Offer Or CEO	$208K Open-market value	+3.9%	Jun 1
4	MAIA3x cluster MAIA Biotechnology, Inc.	Vitoc Vlad CEO	$101K Open-market value	+3.0%	Jun 1
5	MAIA3x cluster MAIA Biotechnology, Inc.	Smith Stan Role not disclosed	$100K Open-market value	+7.0%	Jun 1
6	BSM2x cluster Black Stone Minerals, L.P.	DeWalch D Mark Role not disclosed	$497K Open-market value	+5.4%	May 28
7	GSHD Goosehead Insurance, Inc.	Martin John Arthur CFO	$174K Open-market value	-1.0%	May 28
8	TISI2x cluster TEAM INC	Hill Gary L. CEO	$100K Open-market value	+6.3%	Jun 1
9	COR Cencora, Inc.	DURCAN DERMOT MARK Role not disclosed	$1.1M Open-market value	-1.0%	May 28
10	BZUN2x cluster Baozun Inc.	Wu Junhua Chief Strategy Off...	$54K Open-market value	-2.2%	Jun 1
11	WOK WORK Medical Technology Group LTD	HRT FINANCIAL LP Role not disclosed	$379K Open-market value	-	Jun 1
12	TMCI TREACE MEDICAL CONCEPTS, INC.	Treace John T. CEO	$178K Open-market value	-4.4%	Jun 1

Ranked Leaderboard

Showing 1–12 of 12 signals

Tap score to inspect

#	Company	Value	Since Buy
1	SCHW Wurster Richard A President	$1.8M May 28	+2.8%
2	RLI3× KELLOGG CLARK C —	$153K Jun 1	-1.6%
3	SMWB3× Offer Or CEO	$208K Jun 1	+3.9%
4	MAIA3× Vitoc Vlad CEO	$101K Jun 1	+3.0%
5	MAIA3× Smith Stan —	$100K Jun 1	+7.0%
6	BSM2× DeWalch D Mark —	$497K May 28	+5.4%
7	GSHD Martin John Arthur CFO	$174K May 28	-1.0%
8	TISI2× Hill Gary L. CEO	$100K Jun 1	+6.3%
9	COR DURCAN DERMOT MARK —	$1.1M May 28	-1.0%
10	BZUN2× Wu Junhua Chief Strategy Off...	$54K Jun 1	-2.2%
11	WOK HRT FINANCIAL LP —	$379K Jun 1	—
12	TMCI Treace John T. CEO	$178K Jun 1	-4.4%

How Scoring Works

The 9-factor model behind every conviction score

Every filing is processed the same way, every day: SEC data in, conviction score out. No analyst overrides, no hand-edited rankings, and no page-specific tweaks.

Same formula on every filingNoise stripped before scoringCompensation ratio and cluster behavior lead the best names

9 factors

every filing runs through the same model

Positive drivers

factors that add to conviction

Penalty checks

filters that remove noisy setups

Manual overrides

same formula, no human edits

Reading The Model

What separates noise from conviction

The model is not trying to predict a stock in isolation. It is trying to answer a narrower question: how unusual, intentional, and decision-rich is this insider purchase?

Compensation ratio matters because it scales the trade to the person making it. Cluster behavior matters because independent insiders rarely lean in together by accident.

Primary read

High scores usually need more than one strong driver. One big purchase alone is rarely enough.

Best use

Use the score to rank the tape, then pressure-test valuation, balance sheet strength, and business quality on the stock page.

Score Guide

How to read a score quickly

Click any conviction badge to inspect the full factor breakdown for that filing.

1.5 - 3.0

Watchlist signal

Worth tracking, but usually missing either size, clustering, or unusually strong personal commitment.

3.0 - 5.0

Serious conviction

Usually has at least one strong driver in place and deserves a closer look on valuation and balance-sheet quality.

5.0+

Exceptional signal

This is where check size, insider role, and cluster behavior tend to line up in a way that is genuinely rare.

The 9 scoring factors

What goes into every conviction score

Six factors build the score — three can reduce it. The conviction number reflects both.

Positive Drivers

Six additive factors — higher is stronger conviction.

Transaction Value

+3.0 max

Larger open-market checks matter more, but the scale is damped so one oversized trade does not overwhelm the rest of the filing.

A $100K buy clears the noise floor. Multi-million dollar checks lift the score further.

Compensation Ratio

Key driver in many top scores

+3.0 max

We compare the dollars spent to the insider's annual compensation, because a $300K buy means very different things to different executives.

This is usually the cleanest single signal of personal conviction.

Position Increase

+2.0 max

A meaningful percentage increase in the insider's existing stake reads stronger than a token add-on.

Big step-ups in ownership tend to be more informative than incremental maintenance buying.

Cluster Bonus

Key driver in many top scores

+2.0 max

Multiple insiders buying the same stock inside 30 days gets a dedicated lift because coincidence becomes less likely.

This is the highest-signal pattern on the page when paired with real check size.

Title Weight

+1.0 max

Not all insiders carry the same informational edge. Senior operating roles usually matter more than lower-signal roles.

CEO and CFO purchases are weighted more heavily than standard director buys.

52-Week Range

+1.5 max

Buying closer to weak price levels can indicate the insider is stepping in before the market has fully re-rated the story.

Late-stage momentum buying still counts, but it scores lower than buying near stress.

then filtered by

Penalty Filters

Three deductions for mechanical or low-quality setups.

Earnings Window

Penalty

Trades too close to earnings get reduced because the information window can distort interpretation.

This protects the model from overstating buys made around highly sensitive event timing.

Routine Buyer

Penalty

If an insider buys around the same season every year, the model treats the pattern as more mechanical and less opportunistic.

Repeat seasonal buying is still tracked, but it does not deserve the same score as a fresh decision.

10b5-1 Plan

Penalty

Pre-arranged trades are discounted because the insider is not making a fresh discretionary decision at the moment of filing.

Plan-driven activity is useful context, not clean opportunistic signal.

What To Do Next

A signal is the start.
Research is the decision.

Insider buying tells you where to look, not what to buy. Use the score and cluster activity to build a short list, then check the business before acting.

Check the stock page

Open any ticker from the signal feed and review valuation, balance sheet quality, and business trend before acting.

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Cluster Alerts

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When 3 or more insiders buy the same stock inside 30 days, we send you the ticker, cluster size, combined value, and conviction score — while it is still fresh.

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Trigger

insiders buying the same company inside 30 days

Delivery

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Cost

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Open-market insider purchases, ranked by conviction.

Where multiple insiders are buying together

Every qualified insider buy, ranked for actual signal

The 9-factor model behind every conviction score

What separates noise from conviction

How to read a score quickly

What goes into every conviction score

A signal is the start. Research is the decision.

Get an email when a cluster forms

A signal is the start.
Research is the decision.