Overview
Insider selling was concentrated in technology and industrials, with notable activity in software and engineering & construction, while buying was led by financials and real estate.
High Signal
AAT — Executive Chairman (Ernest S Rady) purchased $3.69M across 3 filings between 2026-08-31 and 2026-09-02 (largest purchase of AAT). (indirect — By ERT, indirect — By AAI) The purchases increased his holdings by up to 4%.
NPB — CHAIRMAN & CEO (Williams Charles Alan) bought $1.42M (first recorded purchase). (indirect — By trust) The transaction increased his stake by 4%.
Notable Buys
SUJA — Ltd. Paine Schwartz Food Chain Fund V Gp purchased $5.39M across 3 filings between 2026-08-31 and 2026-09-02 (largest purchase of SUJA). (indirect — See footnote) These purchases were made by a fund with board representation, and the holding increased by up to 1.6%.
EMPD — LP Empery Asset Management purchased $1.79M (first recorded purchase). (indirect — See footnote) This is the first open-market buy for EMPD by this filer, increasing their stake by 11%.
PAM — Mindlin Marcos Marcelo bought $1.72M (first recorded purchase). The purchase increased his holdings by 2%.
Notable Sells
TPC — Ronald N Tutor sold $197.71M across 3 trusts on 2026-08-31 (largest sale of TPC). (indirect — By Tutor Marital Property Trust, indirect — By Ronald N. Tutor 2018 Dynasty Trust, indirect — By Ronald N. Tutor Separate Property Trust) These sales were part of estate and tax planning as disclosed in the Schedule 13D/A, and not due to company outlook. The sales represented up to a 52% reduction in holdings.
NVDA — Mark A Stevens sold $343.7M across 6 filings between 2026-08-31 and 2026-09-02 (largest sale of NVDA). (indirect — By Trust) All shares were held by a trust, with sales executed at various prices. The sales reduced his holdings by up to 8.6%.
MSFT — Chief Executive Officer (Nadella Satya) sold $41.6M across 6 filings on 2026-09-01 (largest sale of MSFT). Multiple sales were executed at prices around $500 per share, with a cumulative reduction of up to 6% in holdings. 1 other insider also sold MSFT in the last 30 days.
ESTC — Chief Technology Officer (Banon Shay) sold $40.7M across 7 filings between 2026-08-31 and 2026-09-02 (largest sale of ESTC). (indirect — By fund for joint account) These sales were made through a fund for joint account, with up to a 5.6% reduction in holdings. 2 other insiders also sold ESTC in the last 30 days. Chief Legal Officer (Herzog Carolyn) sold $937K (3rd largest sale of ESTC). GVP & CAO (Bone Jane E) sold $390K (largest sale of ESTC).
SNPS — EXECUTIVE CHAIR (Geus Aart de) sold $21.4M across 2 filings between 2026-08-31 and 2026-09-01 (largest sale of SNPS). The sales reduced his holdings by up to 17%.
Patterns
- Technology sector insiders, especially in software and semiconductors, led the selling activity, with over $400M in aggregate sales across NVDA, MSFT, ESTC, and SNPS.
- Multiple large sales in TPC were disclosed as estate and tax planning, not company-related concerns.
- Several notable buys occurred in real estate and financials, with insiders increasing their stakes by 4% or more.
Close
Top buy tickers by $ value: SUJA $5.39M, AAT $3.69M, EMPD $1.79M.
Top sell tickers by $ value: TPC $197.71M, NVDA $343.7M, ESTC $40.7M.