Insider Radar — Week of November 2, 2026
Reported insider selling was $3.73 billion in the week of November 2 and buying was $471.7 million, a ratio of 7.9 to 1 against a median of 9.1 over the preceding twenty-six weeks. It was the heaviest week of selling since mid-August, but about $1.05 billion of it was structural: a secondary offering, sales back to issuers and deal closings. Buying was 1.8 times its median, though more than half of it was placements, IPO allocations and fund units. The largest market purchase of common stock was $35.0 million of Madrigal Pharmaceuticals by Baker Bros.
Insiders sold $3.73 billion in the week of November 2, the most since mid-August, and bought $471.7 million, a ratio of 7.9 to 1 against a 26-week median of 9.1. About $1.05 billion of the selling was structural, not discretionary. The largest market purchase of common stock was $35.0 million of Madrigal Pharmaceuticals by Baker Bros.
Buying was 1.8 times its median, and the largest market purchase of common stock was $35.0 million of Madrigal
Reported buying came to $471.7M across 346 events, against $287.0M the week before on the same basis and a median of $266.7M over the preceding twenty-six weeks. It is the most since the week of September 28; the weeks of August 24, August 31 and September 28 were all higher. Filers flagged as officers or directors bought $272.2M, and filers flagged only as 10% holders bought $199.3M. About $248M, 53% of the total, was not a market bet by an insider, so those purchases are set aside first.
Harrison Street Real Assets Fund, a 10% holder, bought $69.7M of units in the Harrison Street Infrastructure Active ETF (NFRX) on November 5 and 6. It is a fund seeding an ETF from the same sponsor, not an insider buying a company's stock. Trygve Seglem, a director of KNOT Offshore Partners (KNOP), bought $43.5M of Series A Preferred Units at $20.88 on November 3, a second tranche after $25.0M in June. Neither is in the chart. Four purchases were allocations in offerings or placements. At Aspen Neuroscience (ASPE), ARCH Venture Partners XIV ($18.0M), OrbiMed ($15.0M) and one other insider bought $35.0M at the $15.00 IPO price on November 2. RA Capital Management ($40.0M) and Salvia Investment ($6.0M) bought $46.0M of Bambusa Therapeutics (BBTX) at a flat $16.00 the same day, its IPO price. ARCH Venture Fund XIII bought $25.0M of Lyell Immunopharma (LYEL) at a flat $10.77 on November 4 in a securities purchase agreement, and Annovis Bio (ANVS) insiders took $5.0M in an offering at $1.00. Baker Bros. Advisors bought $24.3M of Kodiak Sciences (KOD) at a flat $98.51 on November 4 and 5. The filing does not say why the price is the same on both days, so we leave it out of the chart.
The largest market purchase of common stock was at Madrigal Pharmaceuticals (MDGL). Baker Bros. Advisors, flagged as a director, bought 91,806 shares at $366.99 to $396.61 on November 4 and 6, $35.0M, for funds it advises, and reports 2,040,682 shares after. It is the first purchase of Madrigal by Baker Bros. in our data over the last twenty-six weeks.
Pale Fire Capital, a 10% holder, bought Coursera (COUR) on three straight days, November 3 to 5, 8,355,251 shares at $3.72 to $3.85, $31.5M, and reports 37,161,666 shares after. It also bought $12.9M of Dole (DOLE) during the week. At Stride (LRN), director Dylan Haggart bought $21.4M of the $23.1M reported, his third straight week, after $16.5M over the previous two. Nippon Life's 10b5-1 purchases of Corebridge Financial (CRBG) continued, $19.6M, in the same week that Argon Holdco sold $110.0M of Corebridge back to the company (see the selling section).
Three chief executives or chairs bought with their own money. Richard Kinder, executive chairman of Kinder Morgan (KMI), bought 500,000 Class P shares at a weighted average $29.99 on November 6, $15.0M, held directly, his first purchase in our data over the last twenty-six weeks. Galaxy Digital (GLXY) chief executive Michael Novogratz bought 760,000 Class A shares at $12.69 and $13.63 on November 5, $9.9M. Intel (INTC) chief executive Lip-Bu Tan bought 150,000 shares at $64.73 on November 2 through a family trust, $9.7M.
| Ticker | Buyer | Role | Value | Price | Date |
|---|---|---|---|---|---|
| MDGL | Baker Bros. Advisors LP | Director (funds) | $35.0M | $366.99–$396.61 | Nov 4, 6 |
| COUR | Pale Fire Capital SE | 10% holder | $31.5M | $3.72–$3.85 | Nov 3–5 |
| LRN | Dylan G. Haggart | Director ($21.4M of the ticker's $23.1M) | $21.4M | $74.07–$77.30 | Nov 2–5 |
| CRBG | Nippon Life Insurance Co | 10% holder, 10b5-1 | $19.6M | $35.35–$36.15 (main lot) | Nov 3 (main lot) |
| KMI | Richard D. Kinder | Executive Chairman | $15.0M | $29.99 | Nov 6 |
| DOLE | Pale Fire Capital SE | 10% holder | $12.9M | $13.05–$13.26 | Nov 2–3 |
| GLXY | Michael Novogratz | CEO | $9.9M | $12.69–$13.63 | Nov 5 |
| INTC | Lip-Bu Tan | CEO | $9.7M | $64.73 | Nov 2 |
| NFRX | Harrison Street Real Assets Fund | 10% holder (ETF units, not in chart) | $69.7M | $26.22–$26.40 | Nov 5–6 |
| BBTX | RA Capital Management; Salvia Investment | 10% holders (IPO allocation, not in chart) | $46.0M | $16.00 | Nov 2 |
| KNOP | Trygve Seglem | Director (preferred units, not in chart) | $43.5M | $20.88 | Nov 3 |
| ASPE | ARCH Venture XIV; OrbiMed; one other | 10% holders (IPO allocation, not in chart) | $35.0M | $15.00 | Nov 2 |
| LYEL | ARCH Venture Fund XIII | 10% holder (placement, not in chart) | $25.0M | $10.77 | Nov 4 |
| KOD | Baker Bros. Advisors LP | Director and 10% holder (flat price, not in chart) | $24.3M | $98.51 | Nov 4–5 |
Selling was the heaviest since mid-August, and about $1.05 billion of it was structural
Insiders and large holders disposed of $3.73B, against $1.35B the week before on the same basis and a median of $2.66B over the preceding twenty-six weeks. It is the largest weekly total since the week of August 17. Against $471.7M of buying the ratio is 7.9 to 1, below the 9.1 median. Of the selling, $989.3M, 27%, was sales under 10b5-1 plans, and $508.7M, 14%, was disposed back to issuers under code D. Open-market sales outside plans by filers flagged as officers or directors came to $1.48B, 40%, and by filers flagged only as 10% holders $746.2M, 20%.
About $1.05B of the selling was structural rather than a decision about the stock. Platinum Equity sold 12,650,000 Ingram Micro (INGM) shares on November 4 in a secondary offering priced at $25.90, $325.8M at the $25.76 it received per share. REH Advisors, a director of HF Sinclair (DINO), sold 2,100,000 shares to HF Sinclair at $110.81 on November 3, $232.7M, under a share purchase agreement of the same date; the filing was late, and its remarks put that down to EDGAR access codes. Argon Holdco sold 3,227,700 Corebridge Financial (CRBG) shares at $34.09 on November 6, $110.0M, and Genworth sold $45.2M of Enact (ACT) on November 3, both under repurchase agreements with the issuer and reported under code S. Rocco Ortenzio's $33.4M at Concentra (CON) was also a sale back to the company. The LiveRamp (RAMP, $128.1M at $38.50) and LXP Industrial (LXP, $100.3M at $61.20) disposals were shares converted when the Publicis and Brookfield acquisitions closed on November 2. White Mountains sold a $76.5M block of MediaAlpha (MAX) at $13.90 on November 4. Without these the ratio is 5.7 to 1.
The largest discretionary sale was at Stryker (SYK). Ronda Stryker, a director, sold 550,000 shares on November 6 at weighted average prices of $323.19 to $327.69, $178.9M, with no plan marked. At Royal Caribbean (RCL), director Arne Alexander Wilhelmsen sold $115.7M on November 4 and 6. Keith Meister, the Illumina (ILMN) director who bought $51.5M of MGM Resorts through his Corvex funds the week before, sold 231,433 Illumina shares at $237.02 to $241.42 on November 3, $55.2M. At American Express (AXP), chairman and chief executive Stephen Squeri sold $99.4M of the $137.1M reported by three insiders, after exercising options. Amphenol (APH) chief executive Richard Norwitt ($65.9M), Linde (LIN) chief financial officer Matthew White ($45.3M) and two Motorola Solutions (MSI) insiders, including chairman and chief executive Gregory Brown ($57.5M together), also exercised and sold.
Scheduled sales were led by Dutch Bros (BROS), where executive chairman Travis Boersma and two related holders sold $106.4M under plans, and by Arista Networks (ANET), where Andreas Bechtolsheim, a 10% holder, sold $86.9M of the $87.8M reported on November 5 and 6.
Correction to last week's issue. Boersma's Dutch Bros sales were counted twice there: his indirect lines repeat the direct filings of the two holding entities, so the week of October 26 had $20.5M of Dutch Bros selling, not $41.0M. Eight filings for that week also arrived after it was published, adding $261.6M of disposals, $257.0M of it REH Advisors' earlier HF Sinclair sale on October 29, filed on the evening of November 10. On the corrected basis that week reads 581 filings, $287.0M bought and $1.35B sold, a ratio of 4.7 to 1 against the 3.9 published. The figures for the prior week in this issue use the corrected basis.
| Ticker | Seller | Role | Value | Type | Date |
|---|---|---|---|---|---|
| INGM | Platinum Equity, LLC | 10% holder | $325.8M | Secondary offering | Nov 4 |
| DINO | REH Advisors Inc. | Director | $232.7M | Sale to the issuer (code D), filed late | Nov 3 |
| SYK | Ronda E. Stryker | Director | $178.9M | Open market, no plan | Nov 6 |
| RAMP | LiveRamp insiders (10) | Officers and directors, incl. CEO | $128.1M | Disposed at the deal close (code D) | Nov 2 |
| RCL | Arne Alexander Wilhelmsen | Director | $115.7M | Open market, no plan | Nov 4, 6 |
| CRBG | Argon Holdco LLC | 10% holder | $110.0M | Repurchase agreement with the issuer | Nov 6 |
| BROS | Travis Boersma and two related holders | Executive Chairman; 10% holders | $106.4M | 10b5-1 | Nov 2–6 |
| LXP | LXP insiders (14) | Officers and directors, incl. Chairman and CEO | $100.3M | Disposed at the deal close (code D) | Nov 2 |
| AXP | Stephen J. Squeri | Chairman and CEO | $99.4M | Option exercise and sale | Nov 4 |
| ANET | Andreas Bechtolsheim | 10% holder | $86.9M | 10b5-1 | Nov 5–6 |
| MAX | White Mountains Insurance Group | 10% holder | $76.5M | Block sale at $13.90 | Nov 4 |
| APH | Richard A. Norwitt | President and CEO | $65.9M | Option exercise and sale | Nov 2 |
| ILMN | Keith A. Meister | Director | $55.2M | Open market, no plan | Nov 3 |
| ACT | Genworth Holdings, Inc. | 10% holder | $45.2M | Repurchase agreement with the issuer | Nov 3 |
| LIN | Matthew J. White | Chief Financial Officer | $45.3M | Option exercise and sale | Nov 4 |
Methodology
Source data is public SEC Form 4 filings collected by AlphAI, covering transactions dated November 2 through November 8, 2026: 1,264 filings with a reported value across 693 tickers, and 1,256 after the co-filed correction below. The data was pulled on November 11, after the two-business-day filing deadline for November 6, the window's last trading day, had closed. HF Sinclair's $232.7 million filing arrived after the deadline and is included. Transactions are grouped into events by ticker, filing, ownership form, transaction code and date, so a sale executed in many tranches under one filing counts once rather than inflating the count. Purchases are P-code transactions, disposals are S and D codes. Event groups summing above $1 billion are excluded, because at that size the row is almost always a merger, tender or reorganisation rather than a discretionary trade; this week the cap removed nothing. Where related filers report the same block, it is counted once: a block is one trade when the ticker, date, transaction code, security, share count and price match and the filers are one holder's entities or one person's refilings, and the direct filer's copy is kept. This week that removed 14 copies, $123.8 million, the largest being DST Global's second copy of a $41.1 million Chime sale and ARCH Venture's second copy of the $25.0 million Lyell purchase. Dutch Bros needed a further manual correction: Travis Boersma reports, as indirect holdings, the same sales that his trust and aggregator entity file directly, so $106.4 million of the $212.8 million in the filings is counted. Without that correction selling would read $3.83 billion and the ratio 8.1. The same correction applies to last week's issue, restated in the selling section. The 26-week baseline is not restated for it. Activity filed under 10b5-1 plans is split out, because those trades are scheduled months ahead and say nothing about what a seller thinks now. D-code disposals back to an issuer are reported separately from open-market selling, and sales reported under code S that were in fact repurchases by the issuer or offerings are named as such in the text. Roles come from the officer, director and 10 percent holder flags on the filing itself, and titles are used only where the filing supplies one. Prices above $500 a share (Linde, Motorola Solutions, AutoZone, Regeneron, IDEXX, Seagate, Meta, Eli Lilly, Vertex, United Therapeutics) were checked against the same tickers' own filings over the previous 180 days and sit within 0.74 to 1.34 times that median. The ordinary shares of foreign-domiciled issuers (Linde, Dole, Kiniksa, Jazz, SharkNinja) are priced in US dollars. The recent median sell to buy ratio covers the twenty-six preceding weeks that each had more than $10 million of reported buying, after the same grouping and co-filed correction, so a single week's ratio should be read against that norm rather than on its own. This is a readout of public filings and not investment advice.
Sources: SEC EDGAR Form 4 filings
Get this data live
These figures come straight from the AlphAI feed. Pull scored SEC Form 4 filings and financial news programmatically via the API and MCP server, or set a free alert on any ticker.