By Jonathan Moreland, founder of Insider Insights and author of Profit From Legal Insider Trading.

NEW YORK ( TheStreet) -- It is a victory for common sense. Tracking the trading behavior of company executives, directors and large shareholders in the stocks of firms they're registered in as "insiders" has proven to be profitable, according to both academic studies and (more importantly) the experience of professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Wednesday, August 1, 2012 as ranked by dollar value. Please note, however, that these are only factual lists, not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

At, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

So use these regular Top Insider Trades columns as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to contact us with any questions on our proprietary insider data, and how it is best analyzed.
Dole Food Co (DOLE) Murdock David H CB,DIR,BO 617,400 7,270,832
Ruby Tuesday (RT) Lanigan Bernard Jr DIR 134,000 815,899
First Opportunity Fund (FOFI) Adams Nicholas C FO 92,367 650,318
Universal Stainless (USAP) Pennant Capital Mgt BO 17,543 590,590
Opko Health (OPK) Frost Phillip MD et al CEO,CB,BO 100,000 424,008
MDC Partners (MDCA) Kamerschen Robert DIR 20,000 190,000
Hudson Global (HSON) Sagard Capital BO 40,000 180,950
Omnicare (OCR) Workman John L CEO,PR,CFO 5,000 155,700
Old Republic International (ORI) Zucaro Aldo C CB,CEO,DIR 14,920 121,896
Saga Communications (SGA) Towerview BO 2,426 81,936
Source: Insider Insights
Quality Systems (QSII) Hussein Ahmed D DIR,BO 1,041,733 16,805,818
Splunk (SPLK) August Capital Management III BO 510,766 13,924,145
DDR (DDR) Vater Janina BO 882,604 13,272,339
Splunk (SPLK) JK&B Capital IV BO 439,244 11,974,362
Google (GOOG) Schmidt Eric E CB,DIR 17,500 11,082,574
Schwab Charles (SCHW) Schwab Charles R CB,DIR,BO 813,000 10,249,453
Splunk (SPLK) Connors John G DIR 302,962 8,259,138
Google (GOOG) Shriram Kavitark Ram DIR 12,500 7,944,178
Guidewire Software (GWRE) Ryu Marcus CEO,DIR 75,000 1,893,729
Apollo Comml RE Finance (ARI) Athene BO 94,619 1,591,854
Source: Insider Insights

Key to Titles: A=Assistant, AI=Affiliated Investor, AO=Accounting Officer, BD=Business Development, BO=Beneficial Owner, CAO=Chief Accounting Officer, CB=Chairman, CCO=Chief Compliance Officer, CEO=Chief Executive Officer, CFO=Chief Financial Officer, CIO=Chief Information Officer, CO=Compliance Officer, COO=Chief Operating Officer, CT=Controller, CTO=Chief Technology Officer, DIR=Director, EVP=Executive Vice President, F=Founder, FO=Financial Officer, GC=General Counsel, HR=Human Resources, IO=Information Officer, IR=Investor Relations, LO=Legal Officer, MD=Managing Director, O=Officer, OO=Operating Officer, PR=President, PT=Partner, REL=Relative of an insider, SEC=Secretary, SH=Shareholder, SO=Sales Officer, TO=Technology Officer, TR=Treasurer, TT=Trustee, VCB=Vice Chairman, VP=Vice President, X=Ex Officer or other title displayed.

Jonathan Moreland is the founder of, which produces a weekly newsletter and offers professional screening and alerting tools to analyze a proprietary, real-time insider data feed. He is also the principal of Insider Asset Management, a registered investment advisor in New York. Mr. Moreland has been analyzing insider data professionally for two decades and has been a contributor to since 2001. A fundamental analyst with an MBA in finance, Mr. Moreland long ago identified insider data as an excellent first screen to determine where to focus his research efforts. He is quoted frequently in the media for his insider analysis and stock recommendations stemming from it. He is also author of Profit From Legal Insider Trading.

Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. While he cannot provide investment advice or recommendations, Moreland appreciates your feedback; click here to send him an email.