Insider cluster buys count how many S&P 500 companies had 3 or more distinct insiders file open-market purchases within the same 10-day window, per SEC Form 4 filings.
Insiders buy for many idiosyncratic reasons — scheduled vesting, tax planning, plain confidence — so any one Form 4 filing is noisy evidence. When three or more insiders at the same company buy independently within days of each other, those individual explanations are less likely to all coincide, and a shared read on the business becomes more plausible. Quantustik's Market Conditions score z-scores the 30-day cluster count across the S&P 500 against its own trailing-year baseline.
Live example: the market-wide reading right now is Cluster buys 0 (z=-0.4), one input to the Market Conditions score across the S&P 500.
Every ticker page's Insider Pulse section surfaces its own recent Form 4 filings and flags a cluster-buy banner directly when three or more distinct insiders bought within a 10-day window on that name — the same detection logic feeding the market-wide market-conditions signal, applied at the single-ticker level.
A single insider purchase has many idiosyncratic explanations. When three or more insiders at the same company buy independently within days of each other, those explanations are less likely to all coincide.
SEC Form 4 filings, which company officers and directors must file after buying or selling their own company's stock.
No. It's one input among many to Quantustik's Market Conditions score, not a standalone trade signal.
Browse all S&P 500 tickers to see this metric applied to individual companies.
Educational research only — not investment advice.