Insiders Trading XTXI PANW VMW THC

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 Tuesday, October 23, 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.
VMware (VMW) EMC BO 238,905 19,993,880
Tenet (THC) Glenview Capital BO 200,000 4,706,000
Engility (EGL) Abrams Capital BO 243,986 4,534,705
Cracker Barrel (CBRL) Biglari Sardar BO 18,200 1,166,714
Cytrx (CYTR) Patterson Scott B BO 180,000 451,667
Cys (CYS) Grant Kevin E CB,CEO,CIOR 30,762 400,913
Jabil Circuit (JBL) Brooks Martha DIR 13,000 222,847
Bassett (BSET) Spilman Robert PR,CEO,DIR 16,000 173,312
Opko Health (OPK) Frost Phillip MD CEO,CB,BO 25,000 111,383
Webster (WBS) Macinnes Glenn I VP,CFO 5,000 109,152
Source: Insider Insights
Crosstex Energy (XTXI) Harbinger BO 7,000,000 91,000,000
Brown Forman (BFB) Frazier Laura BO 534,545 35,873,316
Palo Alto (PANW) Zuk Nir CTO,DIR 200,000 12,096,000
Palo Alto (PANW) Batra Rajiv VP 185,500 11,219,040
Cracker Barrel (CBRL) Woodhouse Michael A DIR 49,082 3,170,263
Palo Alto (PANW) Bonvanie Rene SO 37,500 2,268,000
Palo Alto (PANW) Lanfri William A DIR 30,000 1,814,400
JPMorgan Chase (JPM) Erdoes Mary E MD 40,000 1,698,548
Netspend (NTSP) Hatzopoulos Anh VP,BD 148,500 1,520,640
Wintrust (WTFC) Wehmer Edward J PR,DIR 30,000 1,119,078
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.