Charles Rutstein - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Charles Rutstein. 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

Companies with Reported Insider Positions

The SEC filings indicate Charles Rutstein has reported holdings or trades in the following companies:

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Charles Rutstein. 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 FORR / Forrester Research, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in FORR / Forrester Research, 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.

Insider Sales FORR / Forrester Research, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in FORR / Forrester Research, 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 (%)
2012-09-10	FORR	Rutstein Charles	3,090	30.7500	3,090	30.7500	95,018	134	25.92	-14,924	-15.71
2012-09-10	FORR	Rutstein Charles	600	30.6000	600	30.6000	18,360
2012-09-10	FORR	Rutstein Charles	3,090	30.7500	3,090	30.7500	95,018
2012-09-10	FORR	Rutstein Charles	600	30.6000	600	30.6000	18,360
2012-09-07	FORR	Rutstein Charles	9,144	30.7900	9,144	30.7900	281,544
2012-09-07	FORR	Rutstein Charles	5,643	30.7900	5,643	30.7900	173,748
2012-09-07	FORR	Rutstein Charles	9,144	30.7900	9,144	30.7900	281,544
2012-09-07	FORR	Rutstein Charles	5,643	30.7900	5,643	30.7900	173,748
2012-05-01	FORR	Rutstein Charles	26,564	35.4200	26,564	35.4200	940,897
2012-05-01	FORR	Rutstein Charles	3,436	35.3900	3,436	35.3900	121,600
2011-10-31	FORR	Rutstein Charles	900	35.9800	900	35.9800	32,382
2011-10-31	FORR	Rutstein Charles	6,600	35.9000	6,600	35.9000	236,940
2010-11-02	FORR	Rutstein Charles	536	33.4500	536	33.4500	17,929
2010-11-02	FORR	Rutstein Charles	4,464	33.5300	4,464	33.5300	149,678
2010-11-02	FORR	Rutstein Charles	4,600	33.4500	4,600	33.4500	153,870
2010-11-02	FORR	Rutstein Charles	2,900	33.5400	2,900	33.5400	97,266
2010-03-10	FORR	Rutstein Charles	3,996	31.7200	3,996	31.7200	126,753
2010-03-10	FORR	Rutstein Charles	899	31.7000	899	31.7000	28,498
2010-03-10	FORR	Rutstein Charles	3,105	31.7200	3,105	31.7200	98,491
2008-08-18	FORR	Rutstein Charles	2,000	34.5000	2,000	34.5000	69,000
2008-08-18	FORR	Rutstein Charles	1,250	34.5000	1,250	34.5000	43,125
2008-08-18	FORR	Rutstein Charles	2,021	34.5000	2,021	34.5000	69,724

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 Charles Rutstein as disclosed to the Securities Exchange Commission (SEC).