In another challenging week for the markets where the Nasdaq dropped nearly 4%, insiders once again significantly stepped up their insider purchases for a third week in a row. We saw an increase across all three dimensions, number of unique insiders buying shares, the number of companies with insider buying and the absolute dollar amount of purchases.
We saw 897 insiders across 381 companies purchase $324 million worth of stock last week. This compares with 584 insiders across 281 companies purchasing $188 million worth of stock in the week prior. The year-over-year comparison is even starker. During the same week in May 2021, 190 insiders from 107 companies purchased $43 million worth of stock. This brings up the question, how much of a macro signal does aggregate insider buying provide?
