Zedge, Inc.
US ˙ NYSEAM ˙ US98923T1043

Introduction

This page provides a comprehensive analysis of the known insider trading history of Mark Ghermezian. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

See Highest Ranking Insiders
Companies with Reported Insider Positions

The SEC filings indicate Mark Ghermezian has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:ZDGE / Zedge, Inc. Director 0
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Mark Ghermezian. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases ZDGE / Zedge, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in ZDGE / Zedge, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2022-04-18 ZDGE GHERMEZIAN MARK 4,355 5.8093 4,355 5.8093 25,300 1 5.9500 613 2.42

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

ZDGE / Zedge, Inc. Insider Trades
Insider Sales ZDGE / Zedge, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in ZDGE / Zedge, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2025-06-25 ZDGE GHERMEZIAN MARK 25,767 3.9945 25,767 3.9945 102,926 71 2.9800 -26,140 -25.40
2025-06-24 ZDGE GHERMEZIAN MARK 46,683 4.0649 46,683 4.0649 189,762
2021-07-14 ZDGE GHERMEZIAN MARK 11,500 17.7992 11,500 17.7992 204,691
2021-07-09 ZDGE GHERMEZIAN MARK 13,500 17.5884 13,500 17.5884 237,443

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

ZDGE / Zedge, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Mark Ghermezian as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2025-06-26 2025-06-25 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		S - Sale -25,767 0 -100.00 3.99 -102,926
2025-06-26 2025-06-24 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		S - Sale -46,683 25,767 -64.43 4.06 -189,762 104,740
2025-01-08 2025-01-06 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 13,208 72,450 22.29 2.65 35,001 191,992
2024-01-09 2024-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 16,355 59,242 38.14 2.14 35,000 126,778
2023-01-05 2023-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 14,634 42,887 51.80 2.05 30,000 87,918
2022-04-19 2022-04-18 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		P - Purchase 4,355 28,253 18.22 5.81 25,300 164,130
2022-01-05 2022-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 1,377 23,898 6.11 9.08 12,503 216,994
2021-07-14 2021-07-14 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		S - Sale -11,500 22,521 -33.80 17.80 -204,691 400,856
2021-07-14 2021-07-09 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		S - Sale -13,500 34,021 -28.41 17.59 -237,443 598,375
2021-07-08 2021-07-06 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 754 47,521 1.61 16.58 12,500 787,803
2021-07-08 2017-09-29 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		J - Other 4,563 10,346 78.90 2.19 9,993 22,658
2021-01-06 2021-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 1,745 46,767 3.88 5.01 8,749 234,490
2020-08-25 2020-07-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 7,120 45,022 18.79 1.51 10,751 67,983
2020-01-06 2020-01-06 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 5,422 37,902 16.69 1.51 8,187 57,232
2019-07-09 2019-07-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 4,742 32,480 17.10 1.63 7,729 52,942
2019-01-07 2019-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 5,444 27,738 24.42 2.39 13,011 66,294
2018-09-07 2018-07-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 4,056 22,294 22.24 3.93 15,940 87,615
2018-01-08 2018-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 12,455 18,238 215.37 2.76 34,376 50,337
2017-01-05 2017-01-05 4 ZDGE Zedge, Inc.
Class B Common Stock, par value $.01 per share 		A - Award 5,783 5,783 3.14 18,188 18,188
2016-05-31 3 ZDGE Zedge, Inc.
NO SECURITIES BENEFICIALLY OWNED 		0
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)