The average insider purchase beat the S&P 500 by 17.2 percentage points over the next year, but the median buy beat it by 1.0 percentage point. Results by role, buy size, cluster buying and year, and which companies had the most insider buying and selling in the last 12 months.
On average, yes, but the typical buy barely did: across 17,865 insider purchases reported on SEC Form 4 since Feb 1, 2012, the stock beat the S&P 500 by 17.2 percentage points on average over the next 12 months, while the median buy beat it by 1.0 percentage point and 51.4% of buys beat the index (data as of Oct 20, 2026).
The gap between the average (+17.2%) and the median (+1.0%) is the key number: a minority of buys that turned into very large winners pull the average up, while the typical buy did about as well as the index. Over the first three months the average buy beat the S&P 500 by 4.3 percentage points.
Insiders (executives, directors and holders of more than 10% of a company) must report trades in their own company’s stock on SEC Form 4 within two business days. Purchases are the interesting side: insiders sell for many reasons, but they usually buy for one. The data says that reason pays off only modestly for the typical buy, and that the big wins are concentrated in a few. See insider buying for the basics.
By role, purchases by CFOs did best: the median buy beat the S&P 500 by 4.4 percentage points over 12 months and 55.3% beat it (819 buys), while buys by 10% owners did worst (median −2.7%, 46.5% beat it), 2012 to Oct 20, 2026. The median is the fairer measure here, because a handful of huge winners can lift any group’s average.
| Insider | Buys | Median vs S&P 500, 12 months | Beat the S&P 500 |
|---|---|---|---|
| CFO | 819 | +4.4% | 55.3% |
| CEO | 2,537 | +2.4% | 53.2% |
| Director | 10,002 | +1.2% | 52.0% |
| Other officer | 2,038 | +0.6% | 50.5% |
| 10% owner | 2,469 | −2.7% | 46.5% |
Chief financial officers see the numbers first, and CEOs set the plan, so their purchases are often read as the most informed. Large holders such as funds and parent companies buy for strategic or portfolio reasons, which can explain why their buys say less.
Slightly, in this data. Cluster buys, when three or more insiders bought the same stock within 30 days, beat the S&P 500 over 12 months in 52.2% of cases, against 50.9% for buys by a lone insider (6,200 and 11,665 buys since 2012). At the median, cluster buys beat the S&P 500 by 1.5 percentage points and single buys beat it by 0.6 percentage points.
| Buys | Number | Average vs S&P 500 | Median vs S&P 500 | Beat the S&P 500 |
|---|---|---|---|---|
| Cluster (3+ insiders in 30 days) | 6,200 | +18.3% | +1.5% | 52.2% |
| Single insider | 11,665 | +16.7% | +0.6% | 50.9% |
| Buys | Cluster (3+ insiders in 30 days) | Single insider |
|---|---|---|
| Number | 6,200 | 11,665 |
| Average vs S&P 500 | +18.3% | +16.7% |
| Median vs S&P 500 | +1.5% | +0.6% |
| Beat the S&P 500 | 52.2% | 50.9% |
Several insiders buying at once is often treated as a stronger signal, since it is harder to explain by one person’s finances. The edge, where there is one, is small next to the spread of results within each group.
No, not in this data. Smaller buys did better than big ones: purchases under $100,000 beat the S&P 500 by 1.8 percentage points at the median over 12 months, while buys of $1 million or more trailed it by 2.1 percentage points (Form 4 buys since 2012).
| Buys | Number | Average vs S&P 500 | Median vs S&P 500 | Beat the S&P 500 |
|---|---|---|---|---|
| $1 million or more | 3,438 | +4.7% | −2.1% | 47.1% |
| Under $100,000 | 7,472 | +23.2% | +1.8% | 52.7% |
| Buys | $1 million or more | Under $100,000 |
|---|---|---|
| Number | 3,438 | 7,472 |
| Average vs S&P 500 | +4.7% | +23.2% |
| Median vs S&P 500 | −2.1% | +1.8% |
| Beat the S&P 500 | 47.1% | 52.7% |
The largest purchases often come from 10% owners, funds and parent companies, whose reasons are strategic as much as a view on the next year, while small buys by executives are personal money at risk. A dollar figure tells you how much was bought, not how much the buyer knows.
No. The median insider buy beat the S&P 500 over the following 12 months in 8 of the 14 years from 2012 to 2025. The best year was 2020 (median +20.6%, average +60.0%) and the worst 2019 (median −14.8%). Results swing with the market: buys made just before a selloff or a rebound inherit it.
| Year bought | Buys | Median vs S&P 500 | Beat the S&P 500 |
|---|---|---|---|
| 2012 | 932 | +6.9% | 60.8% |
| 2013 | 887 | −0.5% | 49.2% |
| 2014 | 963 | +0.2% | 50.6% |
| 2015 | 1,315 | +4.1% | 56.6% |
| 2016 | 1,249 | +2.7% | 55.1% |
| 2017 | 1,114 | +0.1% | 50.0% |
| 2018 | 1,455 | +2.0% | 52.7% |
| 2019 | 1,444 | −14.8% | 33.7% |
| 2020 | 1,929 | +20.6% | 64.0% |
| 2021 | 1,130 | −3.1% | 47.4% |
| 2022 | 1,900 | +0.3% | 50.3% |
| 2023 | 1,491 | −3.3% | 46.8% |
| 2024 | 983 | −0.9% | 49.2% |
| 2025 | 1,073 | 0.0% | 50.0% |
Each year’s buys are measured over the 12 months after the purchase, so the latest year only appears once its window has closed.
Public Storage (PSA) led by value: insiders bought $235.7 million of stock in the 12 months to Oct 20, 2026, across 2 purchases by 2 insiders. Company totals from SEC Form 4 filings:
| Stock | Purchases | Insiders | Value |
|---|---|---|---|
| Public Storage (PSA) | 2 | 2 | $235.7 million |
| Coupang (CPNG) | 3 | 1 | $136.6 million |
| Kenvue (KVUE) | 2 | 1 | $111.0 million |
| GameStop (GME) | 15 | 5 | $108.9 million |
| Robinhood Markets (HOOD) | 4 | 1 | $57.6 million |
| Energy Transfer (ET) | 5 | 2 | $55.3 million |
| International Flavors & Fragrances (IFF) | 8 | 3 | $30.5 million |
| KKR (KKR) | 8 | 5 | $28.4 million |
| Salesforce (CRM) | 5 | 3 | $27.4 million |
| Fox (FOXA) | 2 | 1 | $20.9 million |
Totals count executives and directors only: 10% owners and single transactions above $250 million (stake deals and strategic investments) are left out. A large total with only one or two insiders is a different signal from smaller buys by many of them. Individual buys from the last 30 days, with who bought and how much, are in Exent Radar.
Life Time Group Holdings (LTH) had the largest insider selling by value, $2.1 billion in the 12 months to Oct 20, 2026. Selling says much less than buying: insiders sell to pay taxes on vested shares, to diversify, or on a schedule set months in advance under a Rule 10b5-1 plan, and large holders sell blocks in secondary offerings.
| Stock | Sales | Value |
|---|---|---|
| Life Time Group Holdings (LTH) | 56 | $2.1 billion |
| Chevron (CVX) | 78 | $636.8 million |
| Twilio (TWLO) | 88 | $618.6 million |
| Stryker (SYK) | 71 | $586.1 million |
| Dollar Tree (DLTR) | 15 | $489.7 million |
| Amphenol (APH) | 23 | $476.8 million |
| Redwire (RDW) | 39 | $474.9 million |
| Warner Bros. Discovery (WBD) | 34 | $373.7 million |
| CVS Health (CVS) | 10 | $345.7 million |
| Charles Schwab (SCHW) | 94 | $334.5 million |
More on reading sales in insider selling.
On average, yes, but the typical buy barely did: across 17,865 insider purchases reported on SEC Form 4 since Feb 1, 2012, the stock beat the S&P 500 by 17.2 percentage points on average over the next 12 months, while the median buy beat it by 1.0 percentage point and 51.4% of buys beat the index (data as of Oct 20, 2026).
By role, purchases by CFOs did best: the median buy beat the S&P 500 by 4.4 percentage points over 12 months and 55.3% beat it (819 buys), while buys by 10% owners did worst (median −2.7%, 46.5% beat it), 2012 to Oct 20, 2026.
Cluster buys, when three or more insiders bought the same stock within 30 days, beat the S&P 500 over 12 months in 52.2% of cases, against 50.9% for buys by a lone insider (6,200 and 11,665 buys since 2012).
Smaller buys did better than big ones: purchases under $100,000 beat the S&P 500 by 1.8 percentage points at the median over 12 months, while buys of $1 million or more trailed it by 2.1 percentage points (Form 4 buys since 2012).
In the 12 months to Oct 20, 2026, the largest insider buying by value was at Public Storage (PSA), $235.7 million; Coupang (CPNG), $136.6 million; Kenvue (KVUE), $111.0 million, by SEC Form 4 company totals.
Not usually on its own. Insiders sell to pay taxes on vested shares, to diversify or on pre-set Rule 10b5-1 plans, so sales carry much less information than open-market purchases, which are made for one main reason: the insider expects the stock to rise.
Radar puts insider purchases, Congress trades and big‑fund moves in one feed, with Gems from the top‑ranked analysts beside them.
Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.