Shibui Finance is a free insider buying screener that screens the entire US market at once: 6.4 million parsed SEC Form 3, 4, and 5 filings across nearly 10,000 companies. It filters by transaction type (open-market purchases only), insider role (CEO, CFO, director, 10%+ owner), dollar amount, and cluster patterns (multiple insiders buying within the same window). Unlike OpenInsider or Finviz, it combines insider buying data with the company's fundamentals, technicals, and valuations in a single query -- for example, stocks where insiders bought in the last 30 days and the P/E is under 15 and the RSI is below 40. It also separates discretionary purchases from noise: 10b5-1 pre-arranged plans, ESPP/401k auto-buys, gifts, estate transfers, and tax withholding are flagged and filterable. Free, no API key.
Insider buying clusters this quarter
As of July 2026, these companies had 3 or more distinct insiders making open-market purchases within 30 days of each other. All transactions are discretionary (10b5-1 plans, gifts, and tax withholding excluded).
"Show me companies where 3 or more different insiders made discretionary open-market purchases within 30 days of each other. Exclude 10b5-1 plans. Show the company, number of unique buyers, total value, and market cap."
10 companies with cluster insider buying (3+ buyers within 30 days), last 60 days:
Company Sector Buyers Total Value Mkt Cap
───────────────────────── ────────────────────── ────── ──────────── ─────────
Quantinuum (QNT) Information Technology 11 $271.3M $17.6B
Vital Farms (VITL) Consumer Staples 11 $3.1M $0.6B
Hudson Technologies (HDSN) Industrials 9 $19.4M $0.3B
Shake Shack (SHAK) Consumer Discretionary 6 $29.1M $2.3B
Fiserv (FISV) Financials 6 $7.7M $27.1B
Granite Ridge (GRNT) Energy 6 $5.0M $0.6B
DENTSPLY SIRONA (XRAY) Health Care 6 $2.6M $2.4B
Norwegian Cruise (NCLH) Consumer Discretionary 5 $50.0M $8.4B
Ryan Specialty (RYAN) Financials 5 $18.4M $10.9B
CarMax (KMX) Consumer Discretionary 5 $6.1M $7.1BLargest insider purchases this quarter
The biggest individual open-market insider buys in the last 90 days by dollar value. Only discretionary purchases (no pre-arranged 10b5-1 plans, no ESPP/401k auto-buys).
"What are the largest insider purchases in the last 90 days by dollar value? Exclude 10b5-1 plans and automatic programs. Show the company, insider name, their role, date, and dollar value."
8 largest discretionary insider purchases, last 90 days:
Company Insider Role Date Value
───────────────────── ───────────────────────── ────────── ────────── ──────────
Rivian (RIVN) Volkswagen AG 10%+ Owner 2026-04-30 $1,000.0M
Parabilis Med (PBLS) RA Capital Healthcare Fund 10%+ Owner 2026-06-11 $394.6M
Jefferies (JEF) Sumitomo Mitsui Financial 10%+ Owner 2026-05-01 $352.5M
Liberty LatAm (LILAK) John C. Malone 10%+ Owner 2026-05-22 $106.5M
Summit Thera (SMMT) Robert W. Duggan Co-CEO 2026-06-12 $50.0M
Summit Thera (SMMT) Maky Zanganeh Co-CEO 2026-06-12 $50.0M
Republic Svcs (RSG) Cascade Investment 10%+ Owner 2026-05-13 $35.1M
Republic Svcs (RSG) Cascade Investment 10%+ Owner 2026-05-14 $31.4MWhat the screener covers
6.4 million insider transactions
Every Form 3, 4, and 5 filing parsed into individual transactions with shares traded, price per share, and transaction codes. Not just filing summaries.
Filter by insider role
Separate CEO and CFO purchases from director buys and 10%+ holder accumulation. Officer purchases carry a different signal than board member purchases.
Combine with any criteria
Cross-reference insider buying with P/E, RSI, revenue growth, or market cap in one request. Traditional insider trackers cannot do this.
Track dollar amounts
A $50,000 purchase means something different from a $5 million one. Filter by total dollar value to find the insider buys that represent real conviction.
What makes insider buying a useful signal
Company insiders (officers, directors, and 10%+ shareholders) are required to report their trades to the SEC within two business days on Form 4. These are legal, public transactions.
Insider buying is considered one of the more reliable bullish signals because insiders spend their own money. They already hold company stock through compensation; when they go into the open market and buy more, they are making a voluntary bet with personal capital. Insider selling is less informative because insiders sell for many reasons (taxes, diversification, planned 10b5-1 programs).
The strongest signals come from clusters of insider buying: multiple insiders at the same company purchasing within a short window. A single director buying $20,000 in shares could mean anything; three officers each buying six-figure amounts in the same month is harder to ignore.
For statistical evidence on whether insider buying predicts returns during market drawdowns, see the insider buying during crashes backtest covering seven crash episodes from 2016 to 2024.
Understanding transaction types
Not every Form 4 transaction is a buy or sell. The SEC uses eight transaction codes, and only two of them represent open-market trades. Shibui tracks all 6.2 million parsed transactions with their original codes:
| Code | Type | Count | Signal |
|---|---|---|---|
| P | Open-market purchase | 417,557 (7%) | Strong bullish. Insider spending personal capital. |
| S | Open-market sale | 1,706,125 (27%) | Weak bearish. Insiders sell for many reasons. |
| A | Grant/award | 1,602,785 (26%) | None. Equity compensation event. |
| M | Exercise of derivative | 1,346,664 (22%) | Neutral. Often paired with a same-day sale. |
| G | Gift | 144,518 (2%) | None. Charitable or personal transfer. |
| F | Tax withholding | 563,877 (9%) | None. Shares surrendered to cover taxes on vesting. |
| J | Other | 214,435 (3%) | Context-dependent. |
| C | Conversion | 102,505 (2%) | Neutral. Derivative conversion. |
Only P (purchase) and S (sale) codes represent open-market transactions. The other codes are corporate events or transfers, not market signals. A naive insider tracker that counts all transactions as "buys" or "sells" overstates activity. Shibui lets you filter by transaction code so you see only the trades that carry signal.
Filtering noise from signal
Even within open-market purchases and sales, not all transactions are discretionary. Shibui parses SEC filing footnotes to flag five categories of non-signal transactions that other trackers miss:
| Flag | What it catches | How many | Why it matters |
|---|---|---|---|
| 10b5-1 plans | Pre-scheduled trades filed months in advance | 951,764 (15%) | Not discretionary. The insider set the schedule before knowing current conditions. |
| Auto-plan (ESPP, 401k, DRIP) | Employer stock purchase programs and dividend reinvestment | 232,606 (4%) | Programmatic buying with no per-trade decision. |
| Tax withholding | Shares surrendered to cover tax on vesting events | 210,696 (3%) | Involuntary disposition, not a bearish signal. |
| Gift/donation | Charitable gifts, family transfers, donations | 46,559 (1%) | Non-economic. No proceeds to the insider. |
| Estate/inheritance | Transfers after an insider's death | 2,073 (<0.1%) | No living decision-maker behind the trade. |
"Show me insider purchases in the last 60 days, excluding 10b5-1 plans, ESPP/401k auto-buys, and estate transfers. Only discretionary open-market buys over $100,000. Show the company, insider name, role, date, and dollar value."
This query applies all five filters at once: transaction code P (purchase), not 10b5-1, not auto-plan, not estate. The result is a clean list of insiders who chose to put their own money into their company's stock on the open market. OpenInsider shows recent Form 4 filings but cannot separate 10b5-1 from discretionary trades or filter out ESPP/401k buys.
What OpenInsider and Finviz can't do
OpenInsider and Finviz are good at browsing recent filings one company at a time. What they cannot do is combine insider data with other financial criteria in a single query:
- "Show me insider buys where the stock also has P/E under 15 and RSI below 30"
- "Find companies where 3+ insiders bought within 30 days and revenue grew 20%+ YoY"
- "Which stocks had insider cluster buying within 90 days of a positive earnings surprise?"
These queries cross-reference insider transactions with fundamentals, technicals, and earnings data. Traditional insider trackers show the filing data; Shibui lets you filter on any combination of the company's financial profile at the same time.
Example screens
"Show me companies where 3 or more different insiders made open-market purchases in the last 30 days. Include each insider's name, title, shares bought, and total dollar value."
This finds cluster buying. Multiple insiders buying around the same time is a stronger signal than any single purchase.
"Find stocks where an insider purchased more than $500,000 worth of shares in the last 60 days, the current P/E is under 15, and the market cap is above $1 billion."
This combines insider conviction with value criteria. Traditional insider trackers show the filing; Shibui lets you filter by the company's valuation at the same time.
"Show me all open-market purchases by CEOs or CFOs in the last 90 days where the purchase was at least $100,000. Exclude 10b5-1 plan transactions."
C-suite purchases are the highest-signal insider buys. Excluding 10b5-1 pre-arranged plans filters out automated selling and buying programs, leaving only discretionary trades.
"Find stocks where insiders bought shares in the last 30 days and the current RSI(14) is below 35. Show the stock, the insider name, purchase amount, and current RSI."
Insiders buying while the stock is technically oversold. This cross-references Form 4 data with daily technical indicators, which no standalone insider tracker can do.
What data is in each filing
| Field | What it tells you |
|---|---|
| Transaction date | When the trade actually happened (not the filing date) |
| Transaction code | Purchase (P), sale (S), award (A), exercise (M), gift (G), and others |
| Shares traded | Number of shares in the transaction |
| Price per share | The price at which the insider traded |
| Insider name and title | Who made the trade and their role (CEO, CFO, Director, 10% Owner) |
| Is officer / is director / is 10% owner | The insider's relationship to the company |
| 10b5-1 flag | Whether the trade was part of a pre-arranged trading plan |
| Shares owned after | The insider's total holdings after the transaction |
| Direct or indirect ownership | Whether the insider holds shares directly or through a trust, LLC, spouse, or family entity. 876,844 of 6.2M transactions are indirect holdings. |
| Nature of ownership | For indirect holdings: the name of the trust, LLC, or relationship (e.g. "Spouse", "Revocable Trust", "Family LLC"). Trusts account for 271K transactions. |
| Auto-plan flag | Whether the purchase was through an ESPP, 401(k), or dividend reinvestment plan. Flags non-discretionary buys. |
| Gift flag | Whether the transaction was a charitable gift or donation. Non-economic dispositions, not market sales. |
| Estate flag | Whether the transaction relates to an inheritance or estate settlement. |
| Tax withholding flag | Whether shares were surrendered to cover taxes on a vesting event. Involuntary disposition. |
| Average price flag | Whether the reported price is a weighted average across multiple fills. A data quality indicator, not a signal filter. |
| Activist investor flag | Whether the insider belongs to one of 38 verified activist investor groups (e.g. Icahn, Starboard, Elliott). |
For tracking activist investors building 5%+ positions through Schedule 13D filings, see the 13D and 13G filing guide. The same activist entity resolution (38 verified groups) is available in both Form 4 transactions and beneficial ownership filings.
How it compares to other insider trackers
| Feature | Shibui | OpenInsider | Finviz |
|---|---|---|---|
| Price | Free | Free | Free (basic) / $39/mo (Elite) |
| Insider data | 6.4M transactions, Forms 3/4/5 | Form 4 only | Basic insider tab |
| Market-wide screening | Yes, any criteria in plain English | Pre-set filters | Pre-set filters |
| Combine with fundamentals | Yes (P/E, revenue, margins, etc.) | No | Separate screener |
| Combine with technicals | Yes (RSI, MACD, Bollinger Bands) | No | Separate screener |
| Custom compound screens | Yes (any combination) | No | No |
| 10b5-1 plan filter | Yes | Yes | No |
| Non-signal filtering (gifts, estate, ESPP) | Yes (5 footnote-mined flags) | No | No |
| Direct vs indirect ownership | Yes (trust, spouse, LLC detail) | Partial (basic flag) | No |
| Historical depth | Full SEC filing history | ~10 years | Recent only |
OpenInsider and Finviz are good for browsing recent filings. Shibui is built for screening: find stocks where insider buying lines up with specific valuation, technical, or fundamental criteria. The insider trading tracker guide walks through the data in more detail.
Frequently asked questions
How do I find stocks with insider buying?
Connect Shibui Finance to Claude and describe what you want in plain English. You can filter by the number of insiders buying, the dollar amount, the time window, and the insider's role. Claude queries 6.4 million parsed filings and returns the results.
Is there a free insider buying screener?
Yes. Shibui Finance is free. You need a Claude account (free or paid) and a one-time connection setup. There is no API key, no subscription, and no data limit for screening.
What is insider buying and why does it matter?
Insider buying is when a company officer, director, or major shareholder purchases shares on the open market with personal funds. It is reported to the SEC on Form 4 within two business days. It is considered a bullish signal because insiders know their company's operations and are voluntarily betting their own money.
What is the difference between insider buying and insider trading?
Insider buying refers to legal, publicly reported purchases by company insiders. Insider trading, in the illegal sense, means trading on material non-public information. All data in Shibui covers legal, SEC-reported transactions.
Can I combine insider buying with other screening criteria?
Yes. Shibui has insider filings, fundamentals, technicals, and valuations in one database. You can screen for insider buying alongside P/E ratios, RSI levels, revenue growth, or any other metric in a single request.
What transaction types are in SEC Form 4 filings?
Form 4 filings contain eight transaction codes: P (open-market purchase), S (open-market sale), A (award/grant), M (derivative exercise), G (gift), F (tax withholding), J (other acquisition or disposition), and C (conversion). Only P and S represent discretionary market transactions. Shibui additionally flags 10b5-1 plans, ESPP/401k auto-buys, gifts, estate transfers, and tax withholding from SEC footnotes, so you can filter to only the insider trades that carry genuine signal.
Related SEC filing pages:
- SEC Filings Hub — overview of all filing types and data coverage
- Insider Trading Tracker — Form 4 deep-dive: transaction codes, timing, cluster detection
- 13D and 13G Filings — activist investors and major holders above 5%
- Track Filing Activity — triage the daily 8-K feed by market cap
- Insider Buying During Crashes — backtest of insider purchase signals during market drawdowns
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