Martin J. Leestma

SPSC

DIRECTOR · SPS COMMERCE INC · CIK 0001223733

FILING MIX · LIFETIME50%/50%

BUYS

SELLS

TOTAL VALUE

$2.24M

COMPANIES

ACTIVE SINCE

May 2020

HOLDINGS NOW

AVG SELL PX

$88.90

Trades · vs SPY

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Performance · forward returns vs SPY

2 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Martin J. Leestma, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	2	+0.00%	+2.40%	+5.36%	-2.96%	-2.96%	—
14d	2	+0.00%	+5.01%	+7.32%	-2.31%	-2.31%	—
30d	2	+0.00%	+9.61%	+9.13%	+0.48%	+0.48%	—
60d	2	+0.00%	+21.75%	+11.74%	+10.01%	+10.01%	—
90d	2	+0.00%	+14.29%	+12.44%	+1.85%	+1.85%	—
180d	2	+0.00%	+13.12%	+25.39%	-12.28%	-12.28%	—
1y	2	+0.00%	+62.07%	+40.25%	+21.82%	+21.82%	—
2y	2	+0.00%	+35.61%	+13.67%	+21.94%	+21.94%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

SPSC · 0 shares · as of Nov 3, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 5 buys / 5 sellsCOVERAGE · 3 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
SPSC SPS COMMERCE INC	SALE	5,620	—	—	0	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	SALE	18,706	$88.84	$1.66M	30,418	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	PURCHASE	4,506	$33.69	$151.8K	32,824	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	SALE	10,680	—	—	0	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	SALE	2,100	$89.49	$187.9K	28,318	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	PURCHASE	10,680	$8.33	$89.0K	43,504	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	PURCHASE	5,620	$25.87	$145.4K	49,124	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	SALE	4,506	—	—	0	Nov 3, 2020	Nov 5, 2020 ↗
SPSC SPS COMMERCE INC	PURCHASEGRANT Stock grant	1,440	—	—	28,318	May 18, 2020	May 20, 2020 ↗
SPSC SPS COMMERCE INC	PURCHASEGRANT Stock grant	4,536	—	—	4,536	May 18, 2020	May 20, 2020 ↗

Other insiders · SPSC

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About this filer

CIK 0001223733

ROLE

Director

PRIMARY

SPSC

COMPANIES

ACTIVE SINCE

May 2020

MARKETPEEL · /INSIDER/0001223733DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Martin J. Leestma

The morning brief, before the bell.