Overview
Reported insider filings for U.S.-listed companies on July 20 and July 21, 2026, show a concentration of large purchases at Columbia Financial, Inc. (NASDAQ:CLBK) by its executive leadership and a director, while a number of high-value sales were disclosed at other public companies across the technology, energy and aerospace sectors. The filings provide specific share counts, price points and post-transaction holdings for each insider, and they also include commentary from InvestingPro regarding relative valuation and recent stock performance.
Columbia Financial: concentrated insider accumulation
Columbia Financial reported multiple material insider purchases on July 20, 2026, with five senior executives and one director making acquisitions at $10.00 per share. The coordinated activity involved both direct purchases and acquisitions through retirement and deferred compensation vehicles.
President and Chief Executive Officer Thomas J. Kemly acquired common stock totaling $530,570 on July 20, 2026. The purchase price was $10.00 per share. The filing shows Mr. Kemly purchased 40,000 shares directly and an additional 13,057 shares through his 401(k) plan, both at the same $10.00 price. Following these additions, Mr. Kemly directly holds 588,391 shares of Columbia Financial common stock. The companys common stock is reported trading at $10.94, a price point that represents a 63% increase over the prior 12 months. InvestingPro commentary cited in the filings notes strong recent returns across multiple timeframes but also indicates that the shares trade above the platforms Fair Value estimate.
Steven M. Klein, Senior Executive Vice President and Chief Operating Officer, likewise purchased shares on July 20, 2026. Mr. Klein acquired 50,000 common shares for a total reported cost of $500,000, at $10.00 apiece. The filing states that Mr. Klein now directly holds 711,570 shares. In addition to those direct holdings, the disclosure indicates he holds 95,470 shares indirectly through a 401(k) plan and 84,244 shares indirectly via an employee stock ownership plan (ESOP). The ESOP figure is noted as not reflecting a final allocation of shares from the Northfield Bank employee stock ownership plan, which was terminated effective July 10, 2026. The filing reiterates that CLBK shares have risen 63% over the past year and 55% year-to-date, and it records InvestingPros assessment that the stock appears overvalued relative to its Fair Value and is listed on the platforms Most Overvalued list.
Allyson Katz Schlesinger, Senior Executive Vice President and Head of Consumer Banking, also disclosed a $500,000 purchase on July 20, 2026. Ms. Schlesinger bought 50,000 shares at $10.00 per share. The filing breaks that amount down into 44,400 shares acquired directly and 5,600 shares purchased indirectly through a 401(k) plan. After the transaction, the filing reports Ms. Schlesinger directly holds 192,490 shares. Her indirect holdings include 29,794 shares held via a Stock-Based Deferral Plan, 15,686 shares via a Supplemental Executive Retirement Plan (SERP), 17,056 shares through an ESOP and 10,302 shares via a SIM. InvestingPros notes attached to the filings underscore the stocks 55% year-to-date return and again flag the shares as trading above Fair Value.
Also on July 20, 2026, Thomas Splaine Jr., Executive Vice President and Chief Financial Officer, acquired 50,000 common shares at $10.00 each for a total of $500,000. The disclosure lists Mr. Splaines direct holding after the purchase as 50,862 shares. He also holds 1,828 shares through an ESOP, 1,727 shares via a stock award and 20,845 shares through a second stock award provided under the Columbia Financial, Inc. 2019 Equity Incentive Plan. The filing specifies that the first stock award vests in three approximately equal annual installments beginning March 3, 2026, while the performance-based second stock award would vest three years after the award date, on March 2, 2029, if performance criteria are met. As with the other filings for Columbia Financial, InvestingPro commentary is included, stating the stock currently trades at $10.94, has returned 63% over the past year and appears overvalued relative to Fair Value, with 11 additional ProTips available to subscribers ahead of the companys earnings report in six days.
Elizabeth E. Randall, a director of Columbia Financial, purchased 49,980 shares on July 20, 2026, at $10.00 per share, for a reported total of $499,800. The breakdown provided in the filing shows 10,580 shares were bought directly, 12,200 shares were acquired indirectly through a Roth IRA and 27,200 shares were acquired indirectly via a Stock-Based Deferral Plan. The filing reiterates that CLBK stock trades at $10.94 and has gained 63% over the past year, as well as 51% over six months. InvestingPros analysis again flags the shares as trading above Fair Value and notes 11 additional tips available to subscribers.
Major insider sales: planned programs and trusts drive large disposals
In contrast to the cluster of purchases at Columbia Financial, filings from July 20 and July 21, 2026, record substantial sales by insiders at several other publicly traded firms. The disclosures include sales executed pursuant to pre-arranged Rule 10b5-1 trading plans, trust-related disposals and transactions following option exercises.
Snowflake Inc. (NASDAQ:SNOW) director Frank Slootman sold common stock totaling approximately $82.3 million across multiple transactions on July 20 and July 21, 2026. The filing shows these dispositions were executed pursuant to a pre-arranged 10b5-1 trading plan that Mr. Slootman adopted on September 19, 2025. The transactions involved the sale of 300,000 shares of Snowflake common stock at prices ranging from $267.765 to $278.24 per share. The disclosures note that Snowflake shares were trading near a 52-week high of $285 at that time, after delivering a 28% gain over the prior six months.
CoreWeave (CRWV) Chief Development Officer Brannin McBee disclosed sales of Class A common stock totaling approximately $14.6 million on July 20, 2026. According to the filings, Mr. McBee sold 194,500 shares at prices ranging from $73.07 to $79.30 per share. These sales were executed under a Rule 10b5-1 trading plan adopted on March 5, 2026. The filing notes that CoreWeave stock was trading at $82.64, which is above the transaction price range, but that the shares remain down 34% over the past year. InvestingPros analysis cited in the filing places CoreWeave near its Fair Value of $81 and mentions that the platform includes 15 additional ProTips for subscribers. The filings detail the distribution of shares sold: 144,000 shares were held directly by Mr. McBee; 25,000 shares were sold by Mr. McBees spouse; 25,000 shares were sold by the Brannin J. McBee 2022 Irrevocable Trust, which lists Mr. McBees spouse and minor child as beneficiaries and names the spouse as trustee; and 500 shares were sold by the Canis Major SM Trust, an irrevocable trust with a third-party trustee for which Mr. McBees minor child is a beneficiary. The disclosure states Mr. McBee retains the power to remove and replace the Canis Trusts trustee. The filing explains that the prices represent weighted averages from multiple transactions executed within the stated ranges.
PBF Energy Inc. (NYSE:PBF) reported that Control Empresarial de Capitales S.A. de C.V., a 10% owner and director, sold a substantial block of shares on July 20, 2026. The entity disposed of 220,000 Class A common shares for an aggregate value of $14,072,118. The sales were executed in two separate transactions: one sale of 100,000 shares at a weighted average price of $63.5001 per share, with individual sale prices ranging from $63.50 to $63.51; and a second sale of 120,000 shares at a weighted average price of $64.3509 per share, with individual sale prices ranging from $64.00 to $64.65. The filing highlights that PBF shares were trading near a 52-week high of $66.05 at the time and had achieved a 148% year-to-date gain. InvestingPro commentary in the disclosures indicates the stock appears overvalued relative to its Fair Value.
TransDigm Group Inc. (NASDAQ:TDG) director W. Nicholas Howley sold shares totaling approximately $12.3 million on July 20, 2026, following an exercise of stock options earlier that day. The filing shows Mr. Howley disposed of 10,132 shares of common stock through several transactions at prices ranging from $1,210.3242 to $1,224.1377 per share, for total proceeds reported at $12,321,287. The shares were held indirectly through the W. Nicholas Howley Family Trust. The disclosure notes that TransDigm stock traded near $1,205 at the time and was down roughly 18% over the prior year. InvestingPros analysis included with the filing characterizes the stock as slightly overvalued at current levels, while also reporting a company market capitalization of $67.4 billion and gross profit margins close to 60%.
Arista Networks (NASDAQ:ANET) President and Chief Technology Officer Kenneth Duda disclosed transactions on July 20, 2026, that resulted in sales totaling approximately $7.39 million. The filing details both direct sales and indirect sales through trusts and a foundation. Mr. Duda directly sold 17,333 common shares for proceeds of $2,955,515, at prices ranging from $169.28 to $172.40 per share. Concurrently, he exercised non-qualified stock options to acquire 17,333 common shares at an exercise price of $15.2769 per share, with the exercise amounting to $264,794. The filing states both the option exercise and the direct sales were carried out under a Rule 10b5-1 trading plan established on March 11, 2026. The disclosure notes Aristas stock traded at $174.94, near a 52-week high of $189.82, and that the company commanded a market capitalization of $219.83 billion. InvestingPro commentary attached to the filing indicated that Arista shares have returned 59% over the past year, trade at a price-to-earnings ratio of 60.36 and maintain a gross profit margin of 63.54%, while currently appearing overvalued relative to Fair Value.
Interpretation and context provided in filings
The filings include explicit InvestingPro assessments in multiple instances. For Columbia Financial, the platforms commentary praises the recent momentum but flags CLBK as trading above Fair Value. For CoreWeave, InvestingPro notes the stock is trading near its Fair Value of $81. For PBF, TransDigm and Arista, InvestingPro similarly provides Fair Value comparisons and longer-term metrics such as market capitalization and gross margins where relevant. Several filings reference the availability of additional ProTips on InvestingPro for subscribers, with Columbia Financial listings repeatedly noting 11 additional tips and CoreWeave the availability of 15 ProTips.
Filers also disclosed the mechanics behind many of the transactions. Several sales were executed under pre-arranged Rule 10b5-1 plans, including those adopted by Frank Slootman of Snowflake on September 19, 2025, Brannin McBee of CoreWeave on March 5, 2026, and Kenneth Duda of Arista on March 11, 2026. W. Nicholas Howleys TransDigm-related sales followed an exercise of stock options on the same day. Trust structures were involved in multiple disclosures, with details provided about beneficiaries and trustees in CoreWeave filings related to the Brannin J. McBee 2022 Irrevocable Trust and the Canis Major SM Trust.
What investors and observers should note
The filings collectively serve as a reminder that insider transactions can represent a range of motivations and structures. The disclosures themselves emphasize that insider purchases may reflect confidence in a companys prospects, while sales can occur for many reasons, including pre-arranged trading plans, portfolio rebalancing, tax planning or personal financial needs. The filings include plain-language cautions that investors should use insider transaction data as one input among many when assessing a security.
Key developments summarized
- Multiple Columbia Financial executives and a director executed coordinated purchases on July 20, 2026, buying shares at $10.00 per share and increasing their direct holdings.
- Major sales were reported at Snowflake, CoreWeave, PBF Energy, TransDigm and Arista, with some sales executed under Rule 10b5-1 plans and others following option exercises or involving trust vehicles.
- InvestingPro commentary appended to multiple filings flagged valuation concerns, noting several stocks were trading above their Fair Value estimates even as they showed strong recent returns.
Selected holdings and transaction totals (as disclosed)
- Thomas J. Kemly (CLBK): 40,000 shares direct + 13,057 via 401(k) at $10.00; total cost $530,570; direct holdings after transaction: 588,391 shares.
- Steven M. Klein (CLBK): 50,000 shares at $10.00; total cost $500,000; direct holdings after transaction: 711,570 shares; indirect: 95,470 via 401(k), 84,244 via ESOP.
- Allyson Katz Schlesinger (CLBK): 44,400 direct + 5,600 via 401(k) at $10.00; total cost $500,000; direct holdings after transaction: 192,490; indirect holdings include Stock-Based Deferral Plan, SERP, ESOP and SIM balances.
- Thomas Splaine Jr. (CLBK): 50,000 shares at $10.00; total cost $500,000; direct holdings after transaction: 50,862; additional holdings include ESOP and two stock awards with disclosed vesting terms.
- Elizabeth E. Randall (CLBK): 10,580 direct + 12,200 via Roth IRA + 27,200 via Stock-Based Deferral Plan at $10.00; total cost $499,800.
- Frank Slootman (SNOW): sold 300,000 shares via 10b5-1 plan at prices ranging $267.765 to $278.24; proceeds approximately $82.3 million.
- Brannin McBee (CRWV): sold 194,500 shares at prices ranging $73.07 to $79.30 under a 10b5-1 plan; proceeds approximately $14.6 million; sales included shares from spouse and trusts.
- Control Empresarial de Capitales S.A. de C.V. (PBF): sold 220,000 Class A shares for $14,072,118 in two transactions with weighted average prices of $63.5001 and $64.3509.
- W. Nicholas Howley (TDG): sold 10,132 shares after exercising options; sale prices ranged from $1,210.3242 to $1,224.1377, totaling $12,321,287.
- Kenneth Duda (ANET): directly sold 17,333 shares for $2,955,515 at $169.28 to $172.40 and exercised 17,333 options at $15.2769 per share for $264,794, under a 10b5-1 plan.
Final observations
The July filings present a clear juxtaposition: concentrated insider accumulation at a regional financial institution, Columbia Financial, versus planned or trust-driven liquidations at several larger technology, energy and aerospace companies. The disclosures include specific details on share counts, price ranges, trust arrangements, option exercises and vesting schedules, and they are accompanied in several cases by third-party valuation commentary from InvestingPro that highlights where shares may be trading relative to Fair Value. Observers should consider the precise mechanics provided in the filings - including the presence of Rule 10b5-1 plans and trust beneficiaries - before drawing conclusions about insider intent.