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Held by 389 of 2,417 reporting institutions (98th percentile) — extremely crowded.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 26 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | $3.94T | 29.5× | 20.9× | 11.9× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.1× | 2,407 |
| PLTR | $472.0B | 311.8× | — | — | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | -1.0× | 1,128 |
| ORCL | $423.1B | 23.9× | 14.1× | 6.3× | 17.3% | — | 25.4% | 40.2% | 34.4% | -0.8× | 1,233 |
| CRWD | $267.4B | — | — | 55.6× | 21.7% | 74.7% | -3.4% | -3.7% | -3.1% | — | 951 |
| SHOP | $214.7B | 177.5× | 142.2× | 18.6× | 30.1% | 48.1% | 10.7% | 9.1% | 9.1% | -1.0× | 575 |
| CRM | $190.0B | 29.6× | 20.7× | 4.6× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 0.8× | 896 |
| SNOW | $116.5B | — | — | 24.9× | 29.2% | 67.2% | -28.4% | -69.2% | -69.2% | — | 464 |
| NOW | $113.4B | 65.7× | 43.4× | 8.5× | 20.9% | 77.5% | 13.2% | 13.5% | 12.1% | -0.9× | 745 |
| NET | $110.5B | — | — | 51.0× | 29.8% | 74.5% | -4.7% | -7.0% | -7.0% | — | 390 |
| ADBE | $96.6B | 14.9× | 10.2× | 4.1× | 10.5% | 89.3% | 30.0% | 61.3% | 40.0% | 0.1× | 627 |
| DDOG | $95.5B | — | — | 27.9× | 27.7% | 80.0% | 3.1% | 2.9% | 2.9% | — | 350 |
| CDNS | $94.0B | 84.4× | 52.9× | 17.8× | 14.1% | — | 20.9% | 20.3% | 20.3% | -1.8× | 390 |
| SNPS | $93.9B | 61.0× | 66.4× | 13.3× | 15.1% | 77.0% | 18.9% | 4.7% | 3.2% | 6.7× | 389 |
| INTU | $88.5B | 20.1× | 15.1× | 4.1× | 13.9% | — | 21.3% | 24.0% | 17.1% | 0.5× | 532 |
| NTES | $71.8B | 74.7× | 11.9× | 4.5× | 11.6% | 64.3% | 30.9% | 21.7% | 21.7% | -1.2× | 101 |
| EA | $52.9B | 59.7× | 36.3× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | -2.1× | 2 |
| ADSK | $50.5B | 46.2× | 31.3× | 7.0× | 17.5% | 91.0% | 15.6% | 36.9% | 20.3% | 0.1× | 339 |
| VEEV | $50.2B | 57.0× | — | 15.7× | 16.3% | 75.5% | 28.4% | 12.6% | 12.6% | — | 342 |
| XYZ | $46.2B | 36.6× | 22.6× | 1.9× | 0.3% | 42.8% | 5.4% | 5.9% | 4.4% | 0.3× | 289 |
| OKTA | $38.8B | 169.4× | — | 13.3× | 11.8% | 77.4% | 8.1% | 3.4% | 3.4% | -5.3× | 249 |
| RBLX | $37.5B | — | — | 7.7× | 35.8% | 78.1% | -21.8% | -270% | -76.0% | — | 184 |
| TWLO | $37.1B | — | 106.0× | 7.3× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 0.9× | 290 |
| TTWO | $36.2B | — | — | 5.4× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 10.3× | 276 |
| CRWV | $33.5B | — | 21.5× | 6.5× | 168% | 71.7% | -22.7% | -35.0% | -4.7% | 7.6× | 269 |
| MDB | $31.0B | — | — | 12.6× | 22.8% | 71.7% | -2.9% | -2.4% | -2.4% | — | 220 |
Peers = companies sharing SNPS's sector (Services-Prepackaged Software) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 3 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
To be worth $467.61 today, the market must believe free cash flow compounds 40.0%/yr for a decade (off $660.5M on the SBC-adjusted basis).
On the basis ($1.38B) the requirement is 29.1%/yr. The difference is what charging stock compensation costs.
The market's 40.0% is more optimistic than its 8-yr track record.
Default is 11.6% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.19B shares (market data) · net debt $10.60B
mean 15.5% · volatility σ 67% · implied rate exceeded in 2/8 yrs
Central path = implied 40.0%/yr growth; shaded band = ±1σ (67%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $1.35B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 3%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $2.89B (at 2025-10-31) covers the $1.04B due within a year 2.8× over. Scheduled principal only (excludes interest & revolver draws). As of 2026-07-31 (10-Q). The cash figure is from 2025-10-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~3.3% on $13.48B of debt.
Cash of $2.89B fully covers short-term debt of $22.1M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.05B 100.0% | $6.13B 100.0% | $5.32B 100.0% | $5.08B 100.0% | $4.20B 100.0% | $3.69B 100.0% | $3.36B 100.0% | $3.12B 100.0% | $2.72B 100.0% | $2.42B 100.0% |
| Cost of Revenue | $1.62B 23.0% | $1.25B 20.3% | $1.03B 19.4% | $898.0M 17.7% | $861.8M 20.5% | $794.7M 21.6% | $752.9M 22.4% | $735.9M 23.6% | $654.2M 24.0% | $543.0M 22.4% |
| Gross Profit | $5.43B 77.0% | $4.88B 79.7% | $4.29B 80.6% | $3.72B 73.2% | $3.34B 79.5% | $2.89B 78.4% | $2.61B 77.6% | $2.39B 76.4% | $2.07B 76.0% | $1.88B 77.6% |
| Research & Development | $2.48B 35.1% | $2.08B 34.0% | $1.85B 34.8% | $1.59B 31.3% | $1.50B 35.8% | $1.28B 34.7% | $1.14B 33.8% | $1.08B 34.8% | $908.8M 33.4% | $856.7M 35.4% |
| Selling, General & Admin | $769.6M 10.9% | $568.5M 9.3% | $376.7M 7.1% | $313.6M 6.2% | $323.0M 7.7% | $284.5M 7.7% | $229.2M 6.8% | $262.6M 8.4% | $196.8M 7.2% | $166.0M 6.9% |
| Total Operating Expenses | $4.52B 64.0% | $3.53B 57.6% | $3.01B 56.7% | $2.57B 50.6% | $2.61B 62.0% | $2.27B 61.6% | $2.09B 62.1% | $2.02B 64.9% | $1.72B 63.2% | $1.56B 64.5% |
| Operating Income | $914.9M 13.0% | $1.36B 22.1% | $1.27B 23.9% | $1.15B 22.6% | $734.8M 17.5% | $620.1M 16.8% | $520.2M 15.5% | $360.2M 11.5% | $347.6M 12.8% | $317.4M 13.1% |
| Interest Expense | $446.7M 6.3% | $36.8M 0.6% | $1.2M 0.0% | $1.7M 0.0% | $3.4M 0.1% | $5.1M 0.1% | $11.7M 0.3% | $15.6M 0.5% | $7.3M 0.3% | $3.8M 0.2% |
| Interest & Investment Income | $277.7M 3.9% | $67.0M 1.1% | $36.7M 0.7% | $8.5M 0.2% | $2.4M 0.1% | $3.6M 0.1% | $6.9M 0.2% | $5.3M 0.2% | $7.2M 0.3% | $3.7M 0.2% |
| Other Income (Expense), net | $924.9M 13.1% | $195.0M 3.2% | $34.9M 0.7% | -$45.3M -0.9% | $70.7M 1.7% | $18.0M 0.5% | $25.3M 0.8% | $3.3M 0.1% | $35.5M 1.3% | $12.2M 0.5% |
| Pretax Income | $1.39B 19.7% | $1.51B 24.7% | $1.31B 24.5% | $1.10B 21.7% | $805.5M 19.2% | $638.2M 17.3% | $545.5M 16.2% | $363.5M 11.6% | $383.1M 14.1% | $329.5M 13.6% |
| Income Tax Expense | $56.0M 0.8% | $99.7M 1.6% | $90.2M 1.7% | $139.4M 2.7% | $49.2M 1.2% | -$25.3M -0.7% | $13.1M 0.4% | -$69.0M -2.2% | $246.5M 9.0% | $62.7M 2.6% |
| Net Income | $1.33B 18.9% | $2.26B 36.9% | $1.23B 23.1% | $984.6M 19.4% | $757.5M 18.0% | $664.3M 18.0% | $532.4M 15.8% | $432.5M 13.9% | $136.6M 5.0% | $266.8M 11.0% |
| Per Share | ||||||||||
| EPS (Basic) | $8.13 | $14.78 | $8.08 | $6.44 | $4.96 | $4.40 | $3.55 | $2.90 | $0.91 | $1.76 |
| EPS (Diluted) | $8.04 | $14.51 | $7.92 | $6.29 | $4.81 | $4.27 | $3.45 | $2.82 | $0.88 | $1.73 |
| Weighted Avg Shares (Basic) | 163.9M | 153.1M | 152.1M | 153.0M | 152.7M | 151.1M | 149.9M | 149.0M | 150.5M | 152.0M |
| Weighted Avg Shares (Diluted) | 165.7M | 155.9M | 155.2M | 156.5M | 157.3M | 155.7M | 154.2M | 153.4M | 154.9M | 154.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 74th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 5% against ROIC 3% — 2% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 7.1% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 23.6 | 22.4 | 21.6 | 20.5 | 17.7 | 19.4 | 20.3 | 23.0 |
| Gross Profit | 76.4 | 77.6 | 78.4 | 79.5 | 73.2 | 80.6 | 79.7 | 77.0 |
| R&D | 34.8 | 33.8 | 34.7 | 35.8 | 31.3 | 34.8 | 34.0 | 35.1 |
| SG&A | 8.4 | 6.8 | 7.7 | 7.7 | 6.2 | 7.1 | 9.3 | 10.9 |
| Operating Income | 11.5 | 15.5 | 16.8 | 17.5 | 22.6 | 23.9 | 22.1 | 13.0 |
| Income Tax | -2.2 | 0.4 | -0.7 | 1.2 | 2.7 | 1.7 | 1.6 | 0.8 |
| Net Income | 13.9 | 15.8 | 18.0 | 18.0 | 19.4 | 23.1 | 36.9 | 18.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SNPS: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -9.4pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 13.8% | 11.6% (today's — no rate published for this year) | 2.2pts |
| FY2020 | 13.2% | 11.6% (today's — no rate published for this year) | 1.7pts |
| FY2021 | 15.0% | 6.1% | 8.9pts |
| FY2022 | 22.3% | 9.2% | 13.1pts |
| FY2023 | 21.8% | 10.1% | 11.7pts |
| FY2024 | 21.6% | 10.7% | 11.0pts |
| FY2025 | 2.2% | 10.7% | -8.5pts |
| Now | 3.2% | 11.6% | -8.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 77.6% | 13.1% | 11.0% |
| FY2017 | 76.0% | 12.8% | 5.0% |
| FY2018 | 76.4% | 11.5% | 13.9% |
| FY2019 | 77.6% | 15.5% | 15.8% |
| FY2020 | 78.4% | 16.8% | 18.0% |
| FY2021 | 79.5% | 17.5% | 18.0% |
| FY2022 | 73.2% | 22.6% | 19.4% |
| FY2023 | 80.6% | 23.9% | 23.1% |
| FY2024 | 79.7% | 22.1% | 36.9% |
| FY2025 | 77.0% | 13.0% | 18.9% |
Return on equity (5%) and return on invested capital (3%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
$26.8B of goodwill — 68% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer. With goodwill over half the base, the ex-goodwill figure divides by a small remainder and moves sharply — read it as a direction, not a precise rate.
ROIC ex-goodwill is 6.83% against 2.18% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 1.26x of reported profit into free cash flow over 5 years, with accruals negative.
Reported free cash flow is $1.35B; after share-based compensation it is $456M. The difference is a real cost that the cash flow statement adds back. Buybacks of $0 covered 0% of the $893M charge, so the repurchase is absorbing dilution rather than returning capital.
Stressed coverage falls to 1.4x — below the level at which interest is reliably covered.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 2.05x |
| 5% | 1.95x |
| 10% | 1.84x |
| 15% | 1.74x |
| 20% | 1.64x |
| 25% | 1.54x |
| 30% | 1.43x |
| 35% | 1.33x |
| 40% | 1.23x |
| 45% | 1.13x |
| 50% | 1.02x |
| 55% | 0.92x |
| 60% | 0.82x |
Ladder as of 2026-07-31 (10-Q); cash from the 2025-10-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-10-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Net debt is 7.2x EBITDA, so coverage today depends on earnings holding up rather than on the balance sheet.
At $490.19, free cash flow must compound 40.75%/yr for 10 years. It has done 0.31%/yr over 6 years after stock compensation, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 31.4% | 40.7% |
| FY2021 | 79.2% | 40.7% |
| FY2022 | 8.5% | 40.7% |
| FY2023 | −16.9% | 40.7% |
| FY2024 | −39.5% | 40.7% |
| FY2025 | −20.7% | 40.7% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The achieved growth rate spans a reporting-basis change in FY2022, so part of it measures the restatement rather than the business.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.33B | $1.33B |
| Share-based comp | $893M | $2.23B |
| Other non-cash & working capital | −$707M | $1.52B |
| Operating cash flow | $1.52B | $1.52B |
| Capex | −$169M | $1.35B |
| Free cash flow | $1.35B | $1.35B |
| FCF after SBC | $456M | $456M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 9.7% | 41.0% | 31.3 points |
| FY2021 | 14.1% | -27.2% | -41.3 points |
| FY2022 | 20.9% | 40.0% | 19.2 points |
| FY2023 | 4.7% | 7.6% | 3.0 points |
| FY2024 | 15.2% | 9.1% | -6.1 points |
| FY2025 | 15.1% | 61.1% | 46.0 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 60.2 days | 68.6 days | 9.6 days | 119.2 days |
| FY2020 | 77.3 days | 88.3 days | 13.8 days | 151.9 days |
| FY2021 | 49.4 days | 97 days | 11.6 days | 134.7 days |
| FY2022 | 57.2 days | 86.1 days | 15.3 days | 128 days |
| FY2023 | 58.8 days | 115.3 days | 54.7 days | 119.3 days |
| FY2024 | 55.7 days | 106.1 days | 60.8 days | 101 days |
| FY2025 | 77.9 days | 82.1 days | 37 days | 123 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -4.2 percent |
| FY2020 | -4.1 percent |
| FY2021 | -8.4 percent |
| FY2022 | -8.0 percent |
| FY2023 | -4.6 percent |
| FY2024 | 6.5 percent |
| FY2025 | -0.4 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 7 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-15 | 3 co-filers PRESIDENT AND CEO | Option exercise | 14,604 | $135.88 | $2.0m |
| 2026-10-15 | 3 co-filers PRESIDENT AND CEO | 10b5-1 plan sale | 14,604 | $462.84 | $6.8m |
| 2026-10-15 | 3 co-filers PRESIDENT AND CEO | Option exercise | 14,604 | $0.00 | — |
| 2026-10-06 | 2 co-filers GC & Corporate Secretary | Open-market sale | 584 | $502.64 | $293k |
| 2026-10-06 | 2 co-filers GC & Corporate Secretary | Open-market sale | 560 | $502.39 | $281k |
| 2026-10-06 | 6 co-filers Deputy CFO & CAO | Option exercise | 9,170 | $135.88 | $1.2m |
| 2026-10-06 | 6 co-filers Deputy CFO & CAO | Exercise & sell | 9,170 | $500.00 | $4.6m |
| 2026-10-06 | 6 co-filers Deputy CFO & CAO | Option exercise | 9,170 | $0.00 | — |
| 2026-10-05 | 6 co-filers Deputy CFO & CAO | Option exercise | 3,000 | $135.88 | $408k |
| 2026-10-05 | 6 co-filers Deputy CFO & CAO | Exercise & sell | 3,000 | $484.78 | $1.5m |
| 2026-10-05 | 6 co-filers Deputy CFO & CAO | Option exercise | 3,000 | $0.00 | — |
| 2026-09-15 | 3 co-filers PRESIDENT AND CEO | Option exercise | 14,604 | $135.88 | $2.0m |
| 2026-09-15 | 3 co-filers PRESIDENT AND CEO | 10b5-1 plan sale | 14,604 | $374.88 | $5.5m |
| 2026-09-15 | 3 co-filers PRESIDENT AND CEO | Option exercise | 14,604 | $0.00 | — |
| 2026-09-11 | 3 co-filers GC & Corporate Secretary | Option exercise | 2,283 | $0.00 | $0 |
| 2026-09-11 | 3 co-filers GC & Corporate Secretary | Tax withholding | 993 | $397.38 | $395k |
| 2026-09-11 | 3 co-filers GC & Corporate Secretary | Option exercise | 2,283 | $0.00 | — |
| 2026-09-01 | 3 co-filers GC & Corporate Secretary | Option exercise | 699 | $0.00 | $0 |
| 2026-09-01 | 3 co-filers GC & Corporate Secretary | Tax withholding | 304 | $414.82 | $126k |
| 2026-09-01 | 3 co-filers GC & Corporate Secretary | Option exercise | 699 | $0.00 | — |
| 2026-09-01 | 7 co-filers EXECUTIVE CHAIR | Option exercise | 24,641 | $135.88 | $3.3m |
| 2026-09-01 | 7 co-filers EXECUTIVE CHAIR | 10b5-1 plan sale | 24,641 | $419.44 | $10.3m |
| 2026-09-01 | 7 co-filers EXECUTIVE CHAIR | Option exercise | 24,641 | $0.00 | — |
| 2026-08-31 | Ghazi Sassine PRESIDENT AND CEO | Other | 27 | $360.96 | $10k |
| 2026-08-31 | Kankanwadi Sudhindra Deputy CFO & CAO | Other | 27 | $360.96 | $10k |
| 2026-08-31 | Ellow Michael Chief Revenue Officer | Other | 27 | $360.96 | $10k |
| 2026-08-31 | 7 co-filers EXECUTIVE CHAIR | Option exercise | 25,000 | $135.88 | $3.4m |
| 2026-08-31 | 7 co-filers EXECUTIVE CHAIR | 10b5-1 plan sale | 25,000 | $441.76 | $11.0m |
| 2026-08-31 | 7 co-filers EXECUTIVE CHAIR | Other | 22 | $360.96 | $8k |
| 2026-08-31 | 7 co-filers EXECUTIVE CHAIR | Option exercise | 25,000 | $0.00 | — |
| 2026-08-28 | 3 co-filers EXECUTIVE CHAIR | Option exercise | 25,000 | $135.88 | $3.4m |
| 2026-08-28 | 3 co-filers EXECUTIVE CHAIR | 10b5-1 plan sale | 25,000 | $445.55 | $11.1m |
| 2026-08-28 | 3 co-filers EXECUTIVE CHAIR | Option exercise | 25,000 | $0.00 | — |
| 2026-08-16 | 3 co-filers GC & Corporate Secretary | Option exercise | 729 | $0.00 | $0 |
| 2026-08-16 | 3 co-filers GC & Corporate Secretary | Tax withholding | 318 | $421.50 | $134k |
| 2026-08-16 | 3 co-filers GC & Corporate Secretary | Option exercise | 729 | $0.00 | — |
| 2026-06-15 | 6 co-filers PRESIDENT AND CEO | Option exercise | 14,603 | $135.88 | $2.0m |
| 2026-06-15 | 3 co-filers CFO | Option exercise | 1,259 | $0.00 | $0 |
| 2026-06-15 | 3 co-filers Deputy CFO & CAO | Option exercise | 720 | $0.00 | $0 |
| 2026-06-15 | 6 co-filers Chief Revenue Officer | Option exercise | 4,048 | $0.00 | $0 |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.