Worth a closer look
- Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
- 6 different insiders bought in the last 90 days.
Reasons for caution
- Other insiders sold $6.9M in the same 90 days, more than was bought (100% of it pre-planned).
- 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 47% of the time (176 cases); the typical one trailed it by 1.3%.
What happened after this filing
Insider Twins: past buys with the same traits
3+ insiders buying · incl. CEO or CFO · $1M+ · stock down 20%+ in 3 months
CWH Mar 17, 2020 +316.8% vs S&PPENN May 18, 2020 +121.2% vs S&PPI Mar 17, 2020 +78.7% vs S&PSKIN Aug 21, 2023 -67.2% vs S&PHCWB May 20, 2025 -65.0% vs S&POSCR Sep 17, 2021 -58.4% 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.
John Maraganore (a director) bought $249K of RAPP at about $26.45 on Oct 22, 2026, reported to the SEC on Oct 22, 2026. Buys like this beat the S&P 500 47% 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.