Following insider trading can be a profitable strategy for retail investors, in addition to tracking hedge fund moves. While tracking the picks of some of the best hedge fund managers can help to outperform the main indices by around 18 percentage points per year over a long-term period, insider buying activity provided a performance by some 7 percentage points, according to empirical studies. With this in mind, let’s take a look at some important insider moves that took place during November.
In the healthcare, a company that got on our radars regarding insider trading activity is IDEXX Laboratories, Inc. (NASDAQ:IDXX). At the end of November, Sophie Vandebroek, who serves as a director on the company’s board, initiated a position in the company via acquiring 1,000 shares, for a price of $107.84 apiece.
The stock of the company has slightly dropped since then, and on Monday was trading at around $104 per share. Another insider who purchased the stock in November is Anne Szostak, who also added 1,000 shares to her stake, increasing it to a total of 3,000 shares.
ViaSat, Inc. (NASDAQ:VSAT), engaged in providing high-speed satellite broadband services, has also been a target of insider buying recently. Amid several insider transactions, Leroy Bruce Dirks, the Chief Financial Officer of the company, disclosed acquiring a total of 1,500 shares of the company, the average price amounting to $60.30 apiece.
Crossroads Systems, Inc. (NASDAQ:CRDS) is another communications company, where we have spotted some insider moves. During November, board director Jeffrey Eberwein has reported a significant amount of transactions, during which he has acquired 154,600 shares, upping his stake to a total of 814,600 shares. The price range for which Mr. Eberwein has purchased the securities is between $1.04 and $1.49 per share.
The IT services sector was marked by insider trading activity in Carbonite Inc (NASDAQ:CARB). Mr. William Nelson, a director of Carbonite has acquired a total of 31,500 shares, raising his holding to 1,431,991 shares. The stock has been purchased in two transactions,the average price being around the $11.40 mark. Aside from Mr. Nelson, the CEO and President of the company David Friend, purchased 58,871 shares in November, and after exercising options to buy another 3,751 shares, he increased its stake in the company 969,762 shares. Todd Krasnow, another director of the company, disclosed buying 37,000 shares, holding currently 294,771 shares.
Several insiders reported purchasing stock of Tremor Video Inc (NYSE:TRMR). The largest amount was bought by the President and CEO, William Day, who acquired a total of 18,000 shares during November. The securities were acquired in four deals, the price varying between $3.73, and $3.90 per share. Following the acquisition, Mr. Day currently holds an aggregate of 33,000 shares of Tremor Video.