Insider transaction filings submitted to the Securities and Exchange Commission between March 27 and March 31, 2026, reveal a mix of concentrated purchases and high-dollar disposals across a range of U.S.-listed companies. The activity covers multiple sectors - notably biotechnology, travel technology, royalty trusts, distribution, and large-cap internet and healthcare names - and highlights contrasting signals from corporate insiders during a volatile stretch for equities.
Major purchases at Zenas BioPharma
Zenas BioPharma, Inc. (ZBIO) recorded substantial insider purchases from two senior insiders as filings show the company's chief executive and a member of its board acquired shares across late March transactions totaling more than $2 million.
Chief Executive Officer Leon O. Moulder Jr. appears in a Form 4 filing for two separate buying episodes. On March 30, 2026, Moulder purchased 20,000 shares of common stock at a weighted average price of $18.23, with individual trade prices that ranged from $18.195 to $18.25 - a transaction totaling $364,600. The following day, March 31, 2026, he added 34,000 shares at a weighted average price of $19.31, with prices in the range of $18.84 to $19.58 - a second outlay totaling $656,540. Combined, the two transactions by Moulder amount to $1,021,140 in purchases.
Those buys occurred as Zenas BioPharma's share price had fallen nearly 12% over the prior week and was trading at $19.55. The company is described in filings as a $1.08 billion enterprise that has lost 46% year-to-date, yet analysts covering the name retain a strong buy consensus.
Also on March 31, 2026, Director Lu Hongbo purchased 75,000 shares of Zenas BioPharma common stock at $20.00 per share, for a total payment of $1,500,000. The filing notes the acquisition was made in an underwritten public offering in which Zenas BioPharma sold shares at $20.00 per share. The filing records that Lu Hongbo now indirectly holds 422,968 shares. The director's purchase came amid a 13% one-week decline for the stock, even as the shares have risen 131% over the last year.
Navan director buys after quite strong fourth-quarter results
Navan, Inc. (NASDAQ:NAVN) drew a notable insider purchase from Director Williams Anre D, who bought 100,000 shares of Class A common stock on March 30, 2026, at $12.00 per share. The transaction totaled $1,200,000. Filings show that, after the purchase, Williams directly owns 215,024 Navan shares, which include 15,024 restricted stock units.
The timing of the purchase follows a significant run-up in Navan's share price, which had climbed 41% over the prior week while remaining down 40% over the past six months. The company reported fourth-quarter revenue of $177.9 million - a 35% increase year-over-year and a figure that exceeded Rosenblatt’s estimates by 9.8%. The filings emphasize that 90% of total revenue came from travel platform usage, which also grew 35% year-over-year. Despite operational challenges cited in filings - including TSA disruptions and geopolitical conflicts - Navan expanded margins and achieved positive free cash flow for the year.
Additional purchases: Cross Timbers and Immunome
SoftVest, LP, disclosed a purchase of 68,467 units of beneficial interest in Cross Timbers Royalty Trust (NYSE:CRT) on March 27, 2026, according to a Form 4 filing. The units were acquired at a weighted average price of $10.24, with purchase prices ranging from $9.99 to $10.51, for a total consideration of $701,102. After the acquisition, SoftVest directly holds 697,851 units of Cross Timbers Royalty Trust.
In the biotech space, Immunome Inc. (NASDAQ:IMNM) saw its President and CEO Clay B. Siegall purchase 25,450 shares of common stock on March 27, 2026, at a weighted average price of $19.67, with per-share prices documented between $19.63 and $19.70. The total reported value of the buy is $500,601. Following the purchase, the filing shows Siegall directly owns 690,704 shares. The company’s shares have been volatile - rising 187% over the past year and carrying a beta of 2.2. InvestingPro analysis cited in the filings indicates the stock appears slightly overvalued relative to its Fair Value, while analysts have set price targets between $30 and $40. The same InvestingPro disclosure notes availability of 10 additional tips for Immunome investors.
Largest sales by dollar value: Cogent Biosciences
Cogent Biosciences (NASDAQ:COGT) registered the largest single insider sale by reported dollar value in this batch of filings. Fairmount Funds Management LLC, identified as a director acting through deputization, sold 7,000,000 shares of common stock on March 31, 2026, at a per-share price of $34.66, producing a gross transaction value of $242,619,999.
Post-sale market data in the filings indicates the stock later traded up to $38.49, reflecting a 565% return over the past year and a 172% return over the last six months. The Form 4 additionally documents that Fairmount Funds Management LLC acquired 7,000,000 shares of Common Stock through the conversion of Series A Convertible Preferred Stock. The filings further state that 28,000 shares of Series A Convertible Preferred Stock were converted into 7,000,000 shares of Common Stock for no cash consideration.
Platinum Equity sells a large block of Ingram Micro stock
Ingram Micro Holding Corp (EXCHANGE:INGM) saw Platinum Equity - a 10-percent owner - report the sale of 1,348,314 shares of common stock on March 30, 2026, at $21.36 per share, amounting to $28,799,987. Filings show the stock later traded higher at $23.31, and that the shares remain up 33% over the past year. After the sale, Platinum Equity and related entities are still recorded as beneficial owners of 197,104,541 shares of Ingram Micro.
The Form 4 details that the sales were executed indirectly through several entities - including Imola JV Holdings, L.P. and Ingram Holdco, LLC - that are ultimately controlled by Tom Gores, the manager of Platinum Equity, LLC. InvestingPro commentary included in the filings characterizes Ingram Micro as undervalued, with analyst price targets between $22 and $32, and places the company at an implied enterprise value of $5.2 billion in its coverage universe of more than 1,400 U.S. equities.
Archrock, United Therapeutics and Alphabet moves
Archrock, Inc. (NYSE:AROC) recorded insider selling by Doug S. Aron, Senior Vice President and Chief Financial Officer, who sold a total of 169,550 shares of common stock in two transactions. The filings show sale prices ranged from $34.76 to $35.61 and that the aggregate value of the disposals was $5.95 million. Archrock shares were trading at $35.03 at the time of reporting, near a 52-week high of $37.73, and had posted gains of 33% over six months and 36% over a year. InvestingPro analysis in the filings indicates the stock appears overvalued relative to its Fair Value and lists it among companies on a Most Overvalued list. The Form 4 notes that on March 27, 2026, Aron sold 71,500 shares at an average price of $35.61, with individual sales priced between $35.44 and $35.67, generating $2,546,115.
United Therapeutics (NASDAQ:UTHR) reported sales by Chairperson and CEO Martine Rothblatt on March 30, 2026. Under a pre-arranged 10b5-1 trading plan, Rothblatt sold 6,737 shares of common stock for a total reported value of $5.6 million; the individual sale prices ranged from $581.74 to $602.7167. The filing also lists a same-day exercise of stock options, in which Rothblatt exercised options for 9,500 shares of United Therapeutics common stock at a strike price of $146.03, acquiring those shares for $1,387,285.
Alphabet Inc. (NASDAQ:GOOGL) saw an insider sale by John Kent Walker, President, Global Affairs and Chief Legal Officer, who disposed of 9,093 shares of Class C capital stock on March 27, 2026, for approximately $2.48 million. Reported sale prices were in the range of $273.91 to $278.30. The company's shares were trading at $287.56 and had delivered an 84% return over the past year. The filings also show that on March 31, 2026, Walker disposed of 8,993 shares and simultaneously acquired 8,993 shares at a reported value of $0.
What the filings collectively show
The filings in this period present a mix of concentrated insider purchases at smaller-cap and mid-cap companies - including biotech names and a travel-technology platform - alongside large-block sales from institutional and insider holders in faster-appreciating names and broad-cap companies. Several purchases were executed as part of an underwritten offering, while other buys occurred in the open market; several sales were carried out under pre-arranged plans or through complex ownership chains.
Across the reported transactions, the filings echo a range of market conditions: individual stocks with strong one-year rallies but recent pullbacks, names flagged by InvestingPro coverage as over- or undervalued relative to Fair Value, and companies reporting sizable revenue growth and margin improvement in recent quarters. Insiders continue to transact for a variety of reasons reflected in the paperwork - acquisitions via offerings, option exercises, and open-market buys and sells - all of which are documented in the SEC filings.
Investors monitoring insider activity will find the filings to be a direct record of how company executives, directors, and significant shareholders are changing their exposures, with the caveat that insider transactions can reflect numerous motivations, including but not limited to confidence in the company’s outlook, portfolio rebalancing, option exercises, or liquidity needs.