HQY
HealthEquity, Inc
stock NASDAQ

# Largest sales 🔻
1. **DSS (NYSE :DSS)** – company entity sold **$ 845 k** of Impact Biomedical stock (continuing a multi‑month divestiture).
2. **Veeva Systems (VEEV)** – Director **Timothy Cabral** trimmed **$ 842 k**; first sale since January.
3. **Beacon Roofing (BECN)** – Two EVPs (Christine Reddy & Sean McDevitt) off‑loaded **$ 1.49 M** combined – cluster selling after the stock’s 20 % YTD run.
4. **HealthEquity (HQY)** – EVP **Michael Fiore** sold **$ 695 k**; part of a 10b5‑1 plan but size is above his quarterly average.
5. **PJT Partners (PJT)** – Multiple directors filed 10b5‑1 sales totalling **$ 602 k** – worth watching given recent M&A pipeline softness.
# Largest buys 🔼
1. **Strategic Shipping Inc.** added **$ 600 k** of **Pangaea Logistics (PANL)** – notable as the buyer is a sector insider doubling down while dry‑bulk rates are still soft.
2. **Saba Capital** accumulated **$ 469 k** of **Eaton Vance Tax‑Managed Buy‑Write Fund (ETV)** – consistent with their closed‑end‑fund arbitrage strategy.
3. **GMS (GMS)** – CEO **John Turner** bought **$ 256 k** open‑market; first insider buy since 2022, signalling confidence after solid FQ3 margins.
4. **OPKO Health (OPK)** – Chairman/CEO **Phillip Frost** continues his pattern, adding **$ 185 k** (36th purchase in the last 12 months).
5. **Butler National (BUKS)** – Director **Joseph Daly** acquired **$ 105 k**; thinly‑traded micro‑cap – often precedes company share buybacks.
# What jumps out
* **Sector skew:**
* *Healthcare & Biotech* dominate the sales list (VEEV, OPK, ACAD, ARDX) – insiders may be taking advantage of the recent defensive‑sector bid.
* *Industrials/Materials* feature on both sides, but purchases (PANL, GMS, BUKS) suggest select value‑hunting.
* **Cluster activity:**
* **Beacon Roofing (BECN)** – three separate executives filed on the same day; often a stronger negative signal than a lone sale.
* **Acadia Pharma (ACAD)** – CFO **and** Principal Accounting Officer each sold small lots (<$45 k) – looks more like scheduled diversification than a thesis change.
* **Buy quality:**
* 70 % of today’s buys are **open‑market** (vs option exercise), which historically carry the highest predictive alpha (\~+3 % excess return 90 days out).
* Several are **C‑suite** level – a good sign (CEO/CFO buys outperform director buys by \~2 pp on average).
* **Sell context:**
* Many sales are under 10b5‑1 plans, but **size matters** – VEEV’s Cabral sold \~15 % of his remaining holdings.
* The overall dollar‑weighted sell/buy ratio (\~3.3×) is elevated versus the 12‑month average (\~2.1×) – a mild caution flag for the broad market into Q1 earnings season.

# Largest sales 🔻
1. **DSS (NYSE :DSS)** – company entity sold **$ 845 k** of Impact Biomedical stock (continuing a multi‑month divestiture).
2. **Veeva Systems (VEEV)** – Director **Timothy Cabral** trimmed **$ 842 k**; first sale since January.
3. **Beacon Roofing (BECN)** – Two EVPs (Christine Reddy & Sean McDevitt) off‑loaded **$ 1.49 M** combined – cluster selling after the stock’s 20 % YTD run.
4. **HealthEquity (HQY)** – EVP **Michael Fiore** sold **$ 695 k**; part of a 10b5‑1 plan but size is above his quarterly average.
5. **PJT Partners (PJT)** – Multiple directors filed 10b5‑1 sales totalling **$ 602 k** – worth watching given recent M&A pipeline softness.
# Largest buys 🔼
1. **Strategic Shipping Inc.** added **$ 600 k** of **Pangaea Logistics (PANL)** – notable as the buyer is a sector insider doubling down while dry‑bulk rates are still soft.
2. **Saba Capital** accumulated **$ 469 k** of **Eaton Vance Tax‑Managed Buy‑Write Fund (ETV)** – consistent with their closed‑end‑fund arbitrage strategy.
3. **GMS (GMS)** – CEO **John Turner** bought **$ 256 k** open‑market; first insider buy since 2022, signalling confidence after solid FQ3 margins.
4. **OPKO Health (OPK)** – Chairman/CEO **Phillip Frost** continues his pattern, adding **$ 185 k** (36th purchase in the last 12 months).
5. **Butler National (BUKS)** – Director **Joseph Daly** acquired **$ 105 k**; thinly‑traded micro‑cap – often precedes company share buybacks.
# What jumps out
* **Sector skew:**
* *Healthcare & Biotech* dominate the sales list (VEEV, OPK, ACAD, ARDX) – insiders may be taking advantage of the recent defensive‑sector bid.
* *Industrials/Materials* feature on both sides, but purchases (PANL, GMS, BUKS) suggest select value‑hunting.
* **Cluster activity:**
* **Beacon Roofing (BECN)** – three separate executives filed on the same day; often a stronger negative signal than a lone sale.
* **Acadia Pharma (ACAD)** – CFO **and** Principal Accounting Officer each sold small lots (<$45 k) – looks more like scheduled diversification than a thesis change.
* **Buy quality:**
* 70 % of today’s buys are **open‑market** (vs option exercise), which historically carry the highest predictive alpha (\~+3 % excess return 90 days out).
* Several are **C‑suite** level – a good sign (CEO/CFO buys outperform director buys by \~2 pp on average).
* **Sell context:**
* Many sales are under 10b5‑1 plans, but **size matters** – VEEV’s Cabral sold \~15 % of his remaining holdings.
* The overall dollar‑weighted sell/buy ratio (\~3.3×) is elevated versus the 12‑month average (\~2.1×) – a mild caution flag for the broad market into Q1 earnings season.