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 Friday, July 26, 2013 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.
Retailmenot (SALE) JP Morgan Inv Mgt BO 900,000 18,900,000
Intl Stem Cell (ISCO) Semechkin Andrey CEO,DIR,BO 5,998,999 899,850
Relm Wireless (RWC) Levenson Ryan BO 140,689 490,912
Cellular Dyn (ICEL) Sixth Fl Investors DIR,BO 40,000 480,000
Solitario Expl (XPL) Herald Christopher PR,CEO,DIR 400,000 336,000
Special Div Opps (SDIX) Becker Drapkin BO 337,392 325,048
Synovus Fin (SNV) Goodrich T Michael DIR 100,000 309,000
Select Comft (SCSS) Harrison Michael J DIR 10,000 227,294
Alexza Pharm (ALXA) King Thomas B PR,CEO,DIR 40,000 179,351
Diamond Resorts (DRII) Lanznar Howard S VP,CAO,BO 12,000 168,000
Source: Insider Insights
Google (GOOG) Schmidt Eric E CB,DIR 86,949 77,468,854
Apple (AAPL) Oppenheimer Peter VP,CFO 37,172 16,367,203
Epam Sys (EPAM) Dobkin Arkadiy CEO,PR,CB 103,732 3,019,036
Millennial Media (MM) Palmieri Paul J PR,CEO,DIR 262,500 2,632,652
Kennedy Wilson (KW) McMorrow William CEO,DIR,BO 111,717 1,960,788
Delta Air Lines (DAL) Gorman Stephen E VP,COO 82,878 1,748,966
Xerium Tech (XRM) Apax Europe Iv Gp BO 108,488 1,486,548
Lin Tv (TVL) Hicks Muse Eq Fd BO 65,063 1,019,537
Foot Locker (FL) Peters Lauren B VP,CFO 22,462 808,632
Vertx (VRTX) Sachs Bruce DIR 8,300 709,621
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.