Introduction

This page provides a comprehensive analysis of the known insider trading history of Hefner Stephen R.. 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 Hefner Stephen R. has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:CPT / Camden Property Trust SVP - Construction 43,942
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Hefner Stephen R.. 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 Trading History

This table shows the complete list of insider trades made by Hefner Stephen R. 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
2014-09-16 2014-09-15 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		S - Sale -4,134 43,942 -8.60 69.90 -288,967 3,071,546
2014-03-27 2014-03-25 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		S - Sale -9,780 47,944 -16.94 67.59 -661,030 3,240,535
2014-02-24 2014-02-20 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		A - Award 5,172 57,724 9.84
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Deferred RT Shares 		M - Exercise -192 8,543 -2.20 11.38 -2,185 97,219
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Deferred RT Shares 		M - Exercise -320 8,735 -3.53 10.72 -3,432 93,683
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Deferred RT Shares 		M - Exercise -223 9,055 -2.40 10.51 -2,344 95,191
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		S - Sale -1,337 52,072 -2.50 59.06 -78,970 3,075,633
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 192 53,409 0.36 11.38 2,185 607,794
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 320 53,217 0.60 10.72 3,432 570,752
2014-01-09 2014-01-07 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 223 52,897 0.42 10.51 2,344 556,080
2013-05-15 2013-05-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		S - Sale -6,000 52,674 -10.23 74.39 -446,340 3,918,419
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Options 		M - Exercise -12,737 3,185 -80.00 30.06 -382,874 95,741
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Options 		M - Exercise -8,325 0 -100.00 48.02 -399,766
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Options 		M - Exercise -2,000 0 -100.00 42.90 -85,800
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		A - Award 3,435 58,674 6.22
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		A - Award 2,770 55,239 5.28
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		A - Award 660 52,469 1.27
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		F - Taxes -12,510 51,809 -19.45 69.42 -868,444 3,596,581
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 12,737 64,319 24.69 30.06 382,874 1,933,429
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 8,325 51,582 19.25 48.02 399,766 2,476,968
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 2,000 43,257 4.85 42.90 85,800 1,855,725
2013-02-19 2013-02-14 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		A - Award 5,158 41,257 14.29
2013-02-13 2013-02-12 4 CPT CAMDEN PROPERTY TRUST
Options 		M - Exercise -667 0 -100.00 31.48 -20,997
2013-02-13 2013-02-12 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		S - Sale -667 36,099 -1.81 69.29 -46,217 2,501,336
2013-02-13 2013-02-12 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 667 36,766 1.85 31.48 20,997 1,157,394
2012-05-07 2012-05-07 4 CPT CAMDEN PROPERTY TRUST
Deferred RT Shares 		M - Exercise -2,813 9,278 -23.27 10.51 -29,572 97,535
2012-05-07 2012-05-07 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		S - Sale -2,813 36,099 -7.23 68.48 -192,634 2,472,060
2012-05-07 2012-05-07 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		M - Exercise 2,813 38,912 7.79 10.51 29,572 409,062
2012-02-21 2012-02-16 4 CPT CAMDEN PROPERTY TRUST
Common Shares of Beneficial Interest 		A - Award 4,879 36,099 15.63
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)