Top insider trades (Fri, Jan 2)

Connor’s Commentary

There were 189 insider trades filed.

• President at Airship AI Holdings (AISP) bought the stock for the first time ever ($275k purchase). He had previously sold the stock twice. The stock is down 50% in the last year.

• CEO at Immunome (IMNM) bought $100k of the stock (3rd purchase in the last couple of weeks). The stock is up 150% in the last 6 months and had positive phase 3 trial results last month.

• The CEO at Arrow Financial (AROW) bought the stock for the first time ($96k purchase). This is their first ever purchase after selling the stock 21 times in a row over 13 years.

• The CFO and a Director join the CEO in buying WhiteHorse Finance (WHF).

• The CFO at Roivant (ROIV) sold the stock for the first time ($9M sale). The stock is up over 90% in the last 6 months.

• VP at Arthur J Gallagher (AJG) sold $1M (largest sale ever, out of 7).

• The General Counsel at Home Depot (HD) sold $1M

• The Treasurer at Hewlett Packard (HPE) sold $900k (5th largest sale, out of 21).

• The CFO at ASP Isotopes (ASPI) sold $463k of the stock (first-ever sale)

• EVP at Costco (COST) sold $2.26M of the stock (first-ever sale)

• Group President at Minerals Technologies (MTX) sold $1.43M (2nd largest sale, out of 7)

• and much more…

Commentary

I’ve been sharing a bunch of interesting data about insider trades in 2025 on X (and will continue sharing more), so make sure to follow us at @CEOStockWatcher if you haven’t already.

Historically (at least back to 2009, when our database starts), insider dip buys (stock is down 20%+ in the previous month or 50%+ in the previous year) have outperformed insider momentum buys (stock is up 20%+ in the previous month or 50%+ in the previous year). Both outperform the S&P.

However, the opposite occurred in 2025, as momentum had a killer year.

There were 558 insider momentum purchases, and those stocks are currently up 26% on average versus just 12% for their benchmarks (Russell 2000 for companies with a market cap below $2B and S&P for the rest).

While dip buys significantly underperformed the momentum buys, they still had a great year. There were 966 dip buys, and those stocks are currently up 16.66% on average.

Dip buys tend to take longer to play out than momentum purchases, so we may see this gap close as more time passes.

We also found a High Signal Momentum Purchase today, so in light of the strong year for momentum, we added it to the CEO Watcher Portfolio. Premium subscribers can see that info in the below sections of this email.

I’m working on adding a Momentum page to the CEO Watcher Premium Dashboard to go along with the Dip Buy page, so we can easily see all of the Momentum purchases. That should be completed soon.

I’ll continue sharing more data from 2025 in next week’s emails.

Have a great weekend!

keep scrolling. top trades + all of the charts and data below

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