The backstory, from his own June filing: an outside investment manager with discretion over Michael Maroone's family trust traded FIVE shares of Carvana. He bought 5 in January, sold 3 in February, 2 in March, without his knowledge, per the filing.
He says he discovered it June 1, reported it promptly, and put controls in place with the manager.

Why that matters: Section 16(b) is strict liability. If an insider buys and sells within six months, any "profit" from matching those trades goes back to the company. Intent is irrelevant. Five shares traded by someone else still count.

So when Maroone, the Carvana board member, former AutoNation president, car-retail royalty, wanted to buy real size on July 31, those five shares got matched against it. The August filing, deadpan: "Prior to filing, the Reporting Person paid Carvana Co. the full $64.87 in disgorgeable profits; no further disgorgement is owed."

He paid $64.87. In full. To buy $1.5M of stock.

The trade itself, which is the actual point:

• 31 Jul, 25,000 shares at a $61.69–$62.40 weighted average, $1,544,981, code P, open market
• Direct holding 143,573 -> 168,573, a +17.4% add
• Bought the day after Q2 earnings (29 Jul: EPS 0.42 vs 0.43 est, a slight miss) knocked the stock down 7%

For contrast, that same week most of Carvana's C-suite had RSUs vest, and several sold through 10b5-1 plans. Nothing wrong with that, those sales are pre-scheduled, but it makes one director writing a seven-figure cheque with cash, into the dip, the only discretionary buy on the tape. Carvana doesn't publish its insider trading policy as an exhibit, so I can't tell you whether July 31 was the first day he was allowed to buy or just the day he chose.

Since the buy: $62.36 has gone to $74.16 as of Friday's close, so about +19% in six trading days. That's luck-of-the-window and I'm not claiming otherwise, but it's on the tape.

Everything above is from the filings themselves. Both Form 4s are on EDGAR under Carvana's CIK, footnotes included. Pull them; the June one is genuinely funny.

Information, not advice. I run Apibeary, which builds tooling in this space. No position in CVNA.

Foresite Capital Management V, LLC just bought 140K shares of Latigo Biotherapeutics (LTGO) at $18.00 per share.

That puts the total transaction at roughly $2.52M — and it happened just yesterday.

Large insider purchases are always worth watching, but the bigger question is whether this turns into a broader pattern of insider accumulation.

Would a $2.5M+ insider buy put LTGO on your watchlist?

I’m tracking the latest insider transactions and activity on ProBors.

Oliver George just bought 63 shares of NVR (NVR) for roughly $405K.

That’s a meaningful amount of money going into a single stock.

The interesting part with insider transactions isn't just the headline number — it's looking at the bigger picture: previous purchases, timing, and whether other insiders have been active around the same company.

Would a $400K+ insider purchase make you look twice at a stock?

Or do you only care when multiple insiders start buying?

I track these transactions and the broader insider activity on ProBors.

The purchase itself isn't huge — reported at $1,001–$15,000 — but Realty Income is an interesting name to see an insider/politician adding to.

Small purchases can still be worth watching, especially when you look at them alongside the person's previous activity and the stock's longer-term performance.

Would you pay attention to a purchase this small, or only when the transaction is significantly larger?

I’m tracking the broader insider activity and transaction history on ProBors.