Brian M Roberts - Insider Trading Tracker

Grand Canyon Education, Inc.

US ˙ NasdaqGS ˙ US38526M1062

Introduction

This page provides a comprehensive analysis of the known insider trading history of Brian M Roberts. 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 Brian M Roberts has reported holdings or trades in the following companies:

Security	Title	Latest Reported Holdings
US:SMRT / SmartRent, Inc.	Chief Legal Officer	8,631
US:LOPE / Grand Canyon Education, Inc.	General Counsel	46,185
US:IGOI / iGo Inc	General Counsel and Secretary	188,949

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Brian M Roberts. 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 LOPE / Grand Canyon Education, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in LOPE / Grand Canyon Education, 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 (%)
There are no known unplanned open-market trades for this insider and security combination

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

LOPE / Grand Canyon Education, Inc. Insider Trades

Insider Sales LOPE / Grand Canyon Education, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in LOPE / Grand Canyon Education, 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 (%)
2017-03-03	LOPE	Roberts Brian M	9,754	63.0700	9,754	63.0700	615,185	0	64.5900	14,827	2.41
2016-08-31	LOPE	Roberts Brian M	3,434	41.2700	3,434	41.2700	141,721
2016-03-11	LOPE	Roberts Brian M	18,000	42.0000	18,000	42.0000	756,000
2014-03-04	LOPE	Roberts Brian M	2,772	48.7800	2,772	48.7800	135,218
2013-08-05	LOPE	Roberts Brian M	2,783	35.7600	2,783	35.7600	99,520

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

Insider Purchases SMRT / SmartRent, Inc. - Short Term Profit Analysis

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 (%)
There are no known unplanned open-market trades for this insider and security combination

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

Insider Sales SMRT / SmartRent, Inc. - Short Term Loss Analysis

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 (%)
There are no known unplanned open-market trades for this insider and security combination

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

Insider Trading History

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

File Date	Tran Date	Form	Ticker	Security	Code	Shares	Remaining Shares	Percent Change	Share Price	Tran Value	Remaining Value
2023-04-03	2023-04-03	4	SMRT	SmartRent, Inc. Class A Common Stock	F - Taxes	-243	8,631	-2.74	2.55	-620	22,009
2023-04-03	2023-04-03	4	SMRT	SmartRent, Inc. Class A Common Stock	M - Exercise	870	8,874	10.87
2023-03-03	2023-03-03	4	SMRT	SmartRent, Inc. Class A Common Stock	F - Taxes	-243	8,004	-2.95	2.66	-646	21,291
2023-03-03	2023-03-03	4	SMRT	SmartRent, Inc. Class A Common Stock	M - Exercise	870	8,247	11.79
2023-02-03	2023-02-03	4	SMRT	SmartRent, Inc. Class A Common Stock	F - Taxes	-302	7,377	-3.93	3.17	-957	23,385
2023-02-03	2023-02-03	4	SMRT	SmartRent, Inc. Class A Common Stock	M - Exercise	869	7,679	12.76
2023-01-03	2023-01-03	4	SMRT	SmartRent, Inc. Class A Common Stock	F - Taxes	-3,628	6,810	-34.76	2.43	-8,816	16,548
2023-01-03	2023-01-03	4	SMRT	SmartRent, Inc. Class A Common Stock	M - Exercise	10,438	10,438
2022-01-05	2022-01-03	4	SMRT	SmartRent, Inc. Employee Stock Option (Right to Buy)	A - Award	175,000	175,000
2022-01-05	2022-01-03	4	SMRT	SmartRent, Inc. Restricted Stock Units	A - Award	41,754	41,754
2018-03-02	2018-03-01	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-6,803	46,185	-12.84	96.90	-659,211	4,475,326
2018-01-29	2018-01-25	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	7,134	52,988	15.56
2017-05-12	2017-05-12	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-1,822	45,854	-3.82	77.33	-140,895	3,545,890
2017-03-29	2017-03-28	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	9,500	47,676	24.88
2017-03-03	2017-03-03	4	LOPE	Grand Canyon Education, Inc. Common Stock	S - Sale	-9,754	38,176	-20.35	63.07	-615,185	2,407,760
2017-03-03	2017-03-01	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-4,550	47,930	-8.67	62.90	-286,195	3,014,797
2016-09-02	2016-08-31	4	LOPE	Grand Canyon Education, Inc. Common Stock	S - Sale	-3,434	52,480	-6.14	41.27	-141,721	2,165,850
2016-05-16	2016-05-12	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-1,238	55,914	-2.17	41.64	-51,550	2,328,259
2016-05-02	2016-04-28	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	14,720	57,152	34.69
2016-03-11	2016-03-11	4	LOPE	Grand Canyon Education, Inc. Common Stock	S - Sale	-18,000	42,432	-29.79	42.00	-756,000	1,782,144
2016-03-03	2016-03-01	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-3,515	60,432	-5.50	40.39	-141,971	2,440,848
2015-05-13	2015-05-12	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-1,238	63,947	-1.90	42.30	-52,367	2,704,958
2015-03-19	2015-03-18	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	18,400	65,185	39.33
2015-03-03	2015-03-01	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-2,377	46,785	-4.84	45.86	-109,009	2,145,560
2014-05-13	2014-05-12	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-1,238	49,162	-2.46	46.21	-57,208	2,271,776
2014-03-18	2014-03-14	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	18,400	50,400	57.50
2014-03-04	2014-03-04	4	LOPE	Grand Canyon Education, Inc. Common Stock	S - Sale	-2,772	32,000	-7.97	48.78	-135,218	1,560,960
2014-03-04	2014-03-01	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-1,228	34,772	-3.41	47.40	-58,207	1,648,193
2013-08-05	2013-08-05	4	LOPE	Grand Canyon Education, Inc. Common Stock	S - Sale	-2,783	36,000	-7.18	35.76	-99,520	1,287,360
2013-05-14	2013-05-12	4	LOPE	Grand Canyon Education, Inc. Common Stock	F - Taxes	-1,217	38,783	-3.04	29.84	-36,315	1,157,285
2013-03-18	2013-03-15	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	20,000	40,000	100.00
2012-05-08	2012-05-02	4/A	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	20,000	20,000
2012-05-04	2012-05-02	4	LOPE	Grand Canyon Education, Inc. Common Stock	A - Award	20,000	20,000
2012-04-30	2012-04-28	4	IGOI	iGo, Inc. Common Stock	F - Taxes	-6,850	188,949	-3.50	0.75	-5,138	141,712
2012-04-12	2012-04-10	4	IGOI	iGo, Inc. Stock Option	A - Award	210,000	210,000		0.75	157,500	157,500
2012-03-20	2012-03-19	4	IGOI	iGo, Inc. Common Stock	F - Taxes	-10,704	195,799	-5.18	0.65	-6,958	127,269

Open market or private purchase of non-derivative or derivative security

Open market or private sale of non-derivative or derivative security

Grant, award, or other acquisition of securities from the company (such as an option)

Conversion of derivative

Sale or transfer of securities back to the company

Payment of exercise price or tax liability using portion of securities received from the company

Gift of securities by or to the insider

Equity swaps and similar hedging transactions

Exercise or conversion of derivative security received from the company (such as an option)

A transaction voluntarily reported on Form 4

Other (accompanied by a footnote describing the transaction)