Worth a closer look
- Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
- Raised their own holding by 36%.
Reasons for caution
- Bought by a 10% owner or investment firm, whose reasons often differ from an executive's.
- Held indirectly (a trust, fund or family entity), so the economic owner isn't only the named insider.
- Similar past buys beat the S&P 500 only 44% of the time (339 cases); the typical one trailed it by 2.6%.
What happened after this filing
Insider Twins: past buys with the same traits
1 insider buying · no CEO or CFO · $1M+ · stock down 20%+ in 3 months
DKL Mar 12, 2020 +224.4% vs S&PKOD Sep 8, 2020 +151.3% vs S&PCORT Mar 19, 2026 +127.3% vs S&PRPGL Mar 6, 2026 -107.3% vs S&PAREB Apr 9, 2025 -90.5% vs S&PMOBX Dec 26, 2023 -80.3% vs S&PWhat we couldn't check
- Why they traded. Filings don't say, and we don't guess.
- Company news after the filing, and any private terms.
Pale Fire Capital SE (a 10% owner) bought $31M of COUR at about $3.76 between Nov 3, 2026 and Nov 5, 2026, reported to the SEC on Nov 5, 2026. Buys like this beat the S&P 500 44% of the time since 2020, against 46% for all insider buys. We found 2 points that make it worth a closer look and 3 reasons for caution. History, not a prediction.
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Written by fixed rules from SEC filings and our measured history, not by an AI model. Public data only. History, not a prediction, and not investment advice.