What is an insider cluster buy?

A cluster buyis when two or more distinct insiders — officers, directors, or 10% owners of the same company — each buy the company's stock through qualifying purchases within a rolling detection window. Grouping distinct buyers makes the purchases easier to research together. It does not establish their motives, whether their decisions were independent, or the stock's future performance.

Why research clustered purchases?

A cluster gives you a focused question: why did several insiders buy this company's shares in the same period? Check their roles, purchase sizes, ownership details, and the business's valuation rather than treating the activity as a recommendation.

For research on differences between routine and opportunistic insider trades, see Cohen, Malloy & Pomorski's "Decoding Inside Information" . Historical research does not validate our specific detection window or guarantee an outcome for an individual cluster.

What qualifies (our definition)

• Qualifying code-P purchases — Form 4 transaction code P covers open-market or private purchases. Grants and option exercises do not count; scheduled purchases are not independently excluded by our filter. See Form 4 transaction codes.
• Two or more distinct insiders — same person filing twice is one insider, not a cluster.
• Within a rolling window — close enough in time to meet the configured detection rule. The code defaults to 90 days; the displayed dates show the included purchases.
• Any company size — we track clusters from micro-caps to mega-caps. The signal tends to run strongest in smaller names; see why small-cap insider buying matters.

Where to see live cluster buys

We monitor public Form 4 filings on SEC EDGAR and group qualifying purchases after processing. Read our data and detection methodology for the full rules and limitations. Browse every stock with a detected cluster buy, see which insiders buy the most, or scan activity by sector.