Insider & Smart-Money Digest — Nov 11, 2026
Top signal: notable sale: ANET $26.59M (mega sale of $26.59M across 2 tranches); forming (2 buyers): TSM.
NYSE: OPEN · Form 4 filings through 06:11 AM PT · Edition window: filings dated Nov 10–Nov 11Top signal: notable sale: ANET $26.59M (mega sale of $26.59M across 2 tranches); forming (2 buyers): TSM.
A · Cluster buys — 3+ insiders, 14 days
No active clusters today — no ticker has 3+ distinct insiders buying within 14 days.
B · Today's Form 4 flow — the tracked universe
No new open-market buys filed since the last edition.
Notable sales — the ones that are not noise (3)
| Ticker | Insider | Role | Txn dates | Shares | Total value | Stake after | Why flagged |
|---|---|---|---|---|---|---|---|
| ANET | Bechtolsheim Andreas | 10 percent owner | 2026-11-06 | 158,202 in 2 tranches | $26.59M | 179,856,954 sh (~$30.32B) | mega sale of $26.59M across 2 tranches |
| MSFT | Hood Amy | officer: EVP, Chief Financial Officer | 2026-11-09 | 5,912 | $3.22M | 549,484 sh (~$299.05M) | C-suite sale of $3.22M |
| NFLX | Peters Gregory K | director, officer: Co-CEO | 2026-11-09 | 27,312 | $1.74M | 119,412 sh (~$7.60M) | C-suite sale of $1.74M |
⚠️ CRWD: cluster selling — 3 distinct insiders sold in the last 14 days ($29.59M total). Weight with care: broad officer selling is often vest-cycle flow, not a coordinated exit.
⚠️ NFLX: cluster selling — 4 distinct insiders sold in the last 14 days ($4.53M total). Weight with care: broad officer selling is often vest-cycle flow, not a coordinated exit.
Filtered as noise this edition: 28 routine open-market sales ($23.36M total); 1 tax-withholding share payments.
C · High-conviction singles
No non-cluster buys tripped a conviction filter in this edition.
D · Clusters forming — one buyer away
| Ticker | Buyers (14d) | $ bought | Window | Buyers |
|---|---|---|---|---|
| TSM | 2 | $371k | 2026-11-01 → 2026-11-05 | Splinter Michael R, Yuan Lipen |
E · Congress — newly disclosed (last 7 days)
| Ticker | Member | Chamber | Type | Amount | Traded | Disclosed | Owner |
|---|---|---|---|---|---|---|---|
| AAPL | Ro Khanna | House | Purchase | $15,001 - $50,000 | 2026-10-02 | 2026-11-09 | Dependent |
| JPM | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-15 | 2026-11-09 | Dependent |
| MRK | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-02 | 2026-11-09 | Dependent |
| META | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-02 | 2026-11-09 | Dependent |
| AMZN | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-10-02 | 2026-11-09 | Dependent |
| META | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-10-02 | 2026-11-09 | Dependent |
| ACN | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-13 | 2026-11-09 | Dependent |
| CRM | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-13 | 2026-11-09 | Dependent |
| KLAC | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-13 | 2026-11-09 | Dependent |
| CDNS | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-13 | 2026-11-09 | Dependent |
| MRVL | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-13 | 2026-11-09 | Dependent |
| MSFT | Shelley Moore Capito | Senate | Sale (Partial) | $1,001 - $15,000 | 2026-10-21 | 2026-11-04 | Spouse |
| META | Shelley Moore Capito | Senate | Sale (Partial) | $1,001 - $15,000 | 2026-10-21 | 2026-11-04 | Spouse |
| AAPL | Shelley Moore Capito | Senate | Sale (Partial) | $1,001 - $15,000 | 2026-10-21 | 2026-11-04 | Spouse |
STOCK Act disclosures lag the trade by up to ~45 days and amounts are ranges — corroborating sentiment, not a timing signal.
F · Smart-money context — active names
KMI — Insider stats 2026 Q4: 1 open-market purchases vs 2 sales (last quarter: 0 vs 4) · free float 86.9% of 2.23B shares out
TSM — Insider stats 2026 Q4: 32 open-market purchases vs 0 sales (last quarter: 114 vs 1) · free float 99.9% of 5.19B shares out
ANET — Insider stats 2026 Q4: 0 open-market purchases vs 49 sales (last quarter: 0 vs 233) · free float 83.3% of 1.26B shares out · 14d open-market sales: $132.80M by 1 insider(s) vs buys $0
MSFT — Insider stats 2026 Q4: 0 open-market purchases vs 5 sales (last quarter: 0 vs 16) · free float 99.9% of 7.43B shares out · 14d open-market sales: $3.98M by 1 insider(s) vs buys $0
NFLX — Insider stats 2026 Q4: 0 open-market purchases vs 7 sales (last quarter: 0 vs 10) · free float 99.3% of 4.11B shares out · 14d open-market sales: $4.53M by 4 insider(s) vs buys $0
G · 14-day leaderboard — open-market insider flow
| Ticker | Score | Buyers (14d) | $ bought | $ sold | Net $ | Signal |
|---|---|---|---|---|---|---|
| KMI | 25 | 1 | $14.99M | $0 | $14.99M | single |
| TSM | 20 | 2 | $371k | $0 | $371k | forming |
Method: Only open-market purchases (Form 4 code P) count as buy signals; sales are shown only when a notable-sale filter trips (C-suite ≥ $1M, any sale ≥ $10M, ≥25% of the seller's position, or 3+ sellers in 14 days), with the seller's post-sale stake shown for scale. Option exercises, grants, gifts and tax-withholding dispositions are counted as noise. Clusters require ≥3 distinct insiders (by reporting CIK) with purchase transaction dates inside a rolling 14-day window, computed over a 120-day local store of Form 4 rows for the tracked tickers. Signal score (0–100): cluster size (40/50/60), $ bought (5/10/15), buyer seniority (3–10), stake increase ≥10%/25% (5/10), buying within 10% of the 52-week low (10), freshness ≤3 days (5). Every row links to its SEC EDGAR filing. Sources: FMP insider trading (latest feed + per-symbol history + statistics), senate/house disclosures, shares float, batch quotes, earnings calendar — 20 API calls this run.
Research for information only — not investment advice; see Disclosures.
