Insider Cow categorizes the information for investors and filter out ‘noises’ by showing only open market transactions. It is up to the investors to further investigate the fundamentals and the transactions.
Do you often feel like giving insider trading a shot? If yes, it is vital that you find the right platform that unleashes insider trades in real-time. Unfortunately, numerous such platforms are available, which may make your search for the right one more confusing than it should be.
At this point, we shall turn our attention to InsiderCow, which is often mentioned as one of the best tools for tracking insider trades.
Is it worth the hype? Can it deliver what you are looking for to improve your trading game?
Read our detailed InsiderCow review, whereby we’ll discuss the key aspects of the service. In the end, you should be in a position to decide whether it works for you.
What is InsiderCow?
In simple terms, this is a platform that is designed to give traders crucial tips on the particular direction that a specific stock is taking. We all know that company executives such as CEOs and CFOs often possess more information regarding the company's position before the earnings reports are released than the public.
The beauty of this situation is that these insiders have to file their trades with the SEC. This implies that it is not exactly a secret when they acquire and sell shares of their companies.
Where does InsiderCow fit in this equation? Well, the platform gathers the SEC filings so that it is easier for you to track and search insider trades. An outstanding aspect of this program is that it covers the insider trades in real-time instead of on a delay as is common with many platforms.
Key Features of the Program
There are several competing platforms that claim to offer more than what this particular one does. So, we shall look at the main features of this service so that you understand why we give it a higher rating than its competitors.
1. Filing Data
This is the main feature of the service, and it is more basic than you would expect from a program's backbone, whereby the software functions by collecting SEC insider filing data and converts it into a basic table of transactions.
It is up to you to decide what the table should display. For instance, you could choose a table that shows all the transactions, sales, or purchases. In addition to that, the insider's name and position will be displayed for each transaction, alongside the number of shares owned by the insider and the total number of shares bought or sold.
Keep in mind that even though this platform keeps historical data, you will have to search for a particular stock to view recent transactions. And when you do the search, you can find insider transactions dating several years back.
Other crucial data that you may find from InsiderCow includes institutional sales and purchases as reported to the SEC. Besides the sale and purchase data, you will also find information regarding the percentage ownership of the company.
The next feature we shall look at is the two types of email alerts that the service offers. They are basic and advanced alerts.
The former allows you to enter stock symbols and receive notifications for insider or institutional transactions filed for a particular company.
And as you would expect, the latter is more advanced and features parameters similar to those in the data screener (we shall look at it next). Note that you can only create one advanced alert at a go while you cannot filter the alerts by a particular set of stocks.
3. The Screener
This is a fundamental tool with which you can query the filing data provided by the platform. In addition, there are several built-in screens that you can subject to different uses. For instance, you can screen for the most insider sales in the week that just ended.
We, however, found some downsides to the screener. For instance, the lack of a parameter logic limits you to querying transactions from either only one type of executive, e.g., CFO or all insiders at a time.
Further, it is impossible to screen a whole market sector or several specific stocks at a go.
4. Insider Trading Activity Charts
These are charts that display the price movements of the stocks on which you got insider information. This way, you can see the accuracy of the information provided, and you can decide whether the shares are worth going for.
5. The Layout
Here is an aspect that we were a bit disappointed in. Even though navigating the platform is pretty straightforward, the website has an outdated vibe, while the data tables are hard to filter. Further, it is impossible to export data to excel if you would have wanted to do so.
If only the display were summarized into a single page rather than the current format spread across numerous displays, it could have been an easier-to-use and more powerful tool.
If you want access to delayed or historical information, InsiderCow will provide it to you for free. However, for real-time data, you will have to subscribe to the paid membership plan that will cost you $29.95 per month.
Besides that, you could use the 14-day free trial whereby you can test the program's key features and see if they work for you.
Which Trader is the Service Best For?
If you believe that information on insider activity can give you an edge in the stock market, InsiderCow would be perfect for you. The impressive bit with insider trading is that you could use it as a standalone strategy or in conjunction with fundamental or technical trading.
This means that both beginners and experienced traders could benefit greatly from what this platform offers.
Pros and Cons
We have seen that this is a fantastic service that can boost your trades by a significant margin. However, it has its fair share of drawbacks. Let's look at them in summary.
We hope our review of this service has helped you fully understand what it is about. If insider trading is your thing, this is a platform that we believe you will find to be of great use.
However, there are some things that you should keep in mind to avoid facing disappointments in the future. First, this service only provides data on insider trading, and it would be wise if you had other data sources that would provide context for the decisions that the players are making.
All in all, this is a fantastic service that we would urge you to invest in, and in the end, you will be ahead of the pack in the stock market.
Blake is a self-made online day trader with a knack for adventure. On his free time, he loves reading and learning new methods in the trading as well as improving his jiu-jitsu skills. He currently resides in New York City.