Insider Cluster (7 insiders) ·Filed Feb 20, 2026
Insider cluster: 2 insiders, $667K total
Actionable Insight ▼ Bearish
Monitor for upcoming earnings or corporate announcements; coordinated C-suite selling often precedes weaker-than-expected news or slowing growth. Consider this a cautionary signal ahead of next quarter.
Final — all horizons settled through T+60d
SPSC ▼ -8.47% at T+60d
SHORT call ✓ call won +8.47% · α vs SPY +15.61% · entry $57.95 → $53.04
T+1d
-6.44%
call +6.44% · α +5.43%
$54.22
settled 8mo ago
T+5d
-2.48%
call +2.48% · α +2.03%
$56.51
settled 8mo ago
T+20d
0.00%
call 0.00% · α -5.95%
$57.95
settled 7mo ago
T+60d
-8.47%
call +8.47% · α +15.61%
$53.04
settled 6mo ago
Price Chart
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Executive Summary
Multiple insiders at SPS Commerce sold shares in a concentrated 7-day window, including the CEO and CFO selling over $666K in stock. The cluster is dominated by selling activity from top executives, which may signal reduced confidence in near-term stock performance.
Key Financial Metrics
Direction
selling
Total Value
$770.8K
Insiders
7
Key Facts
- CEO Chadwick Collins sold 7,776 shares for $451,737
- CFO Kimberly Nelson sold 3,700 shares for $214,921
- EVP & CTO Jamie Thingelstad sold 1,900 shares for $104,119
- Total sell value in 7 days: $770,777
- Three insiders (Rosini, Fumbi, McConnell) had $0 transactions labeled as 'A' (acquisition?), not contributing to value
Financial Impact
$770,777 in insider selling over 7 days
insider sentimentshareholder confidencepotential dilution or supply pressure
Risk Factors
- Insiders may be diversifying holdings, not necessarily signaling negative outlook
- Lack of buy-side activity in cluster reduces counterbalancing signal
Market Snapshot
Exchange
Nasdaq
Investment Themes
Software & IT
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (7 trades, 7d window) | cluster-SPSC-1771970057295 |
4 reports for SPSC
Filters
Rows
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | Press Release | $85.25 | awaiting T+60 | — | $92.63 (+8.66%) |
Jul 30, 2026 12w ago | Press Release | $73.39 $90.56 | ▲ +23.40% | ▲ +20.94% | $92.63 (+26.22%) |
May 15, 2026 23w ago | DEFA14A | $51.17 $74.91 | ▲ +46.39% | ▲ +41.88% | $92.63 (+81.02%) |
Feb 20, 2026 35w ago | Insider Cluster | $57.95 $53.04 | ▲ +8.47% | ▲ +15.61% | $92.63 (−59.84%) |
Showing 4 of 4
US Market Status
Market Closed — Opens Wed (12h 44m)
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