Worth a closer look
- Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
- Bought by the CFO, one of the two people with the fullest view of the company.
- 4 different insiders bought in the last 90 days.
Reasons for caution
- Similar past buys beat the S&P 500 only 35% of the time (68 cases); the typical one trailed it by 3.0%.
What happened after this filing
Insider Twins: past buys with the same traits
2 insiders buying · incl. CEO or CFO · $1M+ · stock down 20%+ in 3 months
GLPI Mar 18, 2020 +123.8% vs S&PSMMT May 14, 2021 +39.2% vs S&POPK Nov 10, 2020 +36.7% vs S&PNFE Mar 13, 2025 -71.8% vs S&PHLLY Aug 18, 2022 -54.4% vs S&PCVNA Apr 28, 2022 -53.2% 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.
Adolfo Fernando Zuberbuhler (CFO) bought $207K of PAM at about $66.11 on Nov 4, 2026, reported to the SEC on Nov 4, 2026. Buys like this beat the S&P 500 35% of the time since 2020, against 46% for all insider buys. We found 3 points that make it worth a closer look and 1 reason 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.