Michael Sousa - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Michael Sousa. 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 Michael Sousa 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 Michael Sousa. 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 HSTM / HealthStream, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in HSTM / HealthStream, 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 HSTM / HealthStream, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in HSTM / HealthStream, 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 (%)
2024-02-26	HSTM	Sousa Michael	15,000	27.2500	15,000	27.2500	408,750	52	23.9900	-48,900	-11.96
2018-05-03	HSTM	Sousa Michael	16,005	25.0891	16,005	25.0891	401,551
2016-02-22	HSTM	Sousa Michael	10,000	21.3510	10,000	21.3510	213,510
2015-03-06	HSTM	Sousa Michael	4,558	26.0000	4,558	26.0000	118,508
2015-03-03	HSTM	Sousa Michael	5,442	26.0000	5,442	26.0000	141,492
2014-08-13	HSTM	Sousa Michael	10,000	26.1270	10,000	26.1270	261,270
2014-03-07	HSTM	Sousa Michael	25,624	28.7330	25,624	28.7330	736,254
2013-04-29	HSTM	Sousa Michael	3,363	22.8140	3,363	22.8140	76,723
2013-04-26	HSTM	Sousa Michael	29,037	22.5730	29,037	22.5730	655,452
2013-04-25	HSTM	Sousa Michael	24,065	23.1210	24,065	23.1210	556,407
2013-04-25	HSTM	Sousa Michael	7,725	23.1190	7,725	23.1190	178,594

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 Michael Sousa as disclosed to the Securities Exchange Commission (SEC).