NWN CLUSTER SEC Filing Analysis

Latest settled — T+20d

NWN ▼ -3.89% at T+20d

LONG call ✗ call lost -3.89% · α vs SPY -7.02% · entry $50.19 → $48.24

Next anchor: T+60d in 7w

Last close $49.86 (close Jun 12) · -0.66% from $50.19 entry

Entry anchored
May 6, 03:59 PM ET
via Databento tick

T+1d

+0.50%

call +0.50% · α -0.33%

$50.44

settled 6w ago

T+5d

-0.96%

call -0.96% · α -2.46%

$49.71

settled 5w ago

T+20d

-3.89%

call -3.89% · α -7.02%

$48.24

settled 11d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

Two NWN insiders — CEO Justin Palfreyman and Director Peter Bragdon — made open-market purchases totaling ~$80K over a 7-day window. CEO Palfreyman's $60K buy at $48.75 is the largest and most notable, as C-suite open-market purchases carry strong predictive signal per academic literature. The cluster is small relative to NWN's $2.1B market cap (~0.004%), but the CEO's personal cash deployment at a recent price dip is a modest bullish signal, especially given the company's 60% analyst bullish consensus and the historical 100% win rate on prior NWN reports.

Key Financial Metrics

Direction

buying

Total Value

$80.0K

Insiders

2

Actionable Insight

CEO Palfreyman's open-market purchase at $48.75 is a modest bullish signal — C-suite cluster buys are the strongest insider signal per academic literature. However, the dollar amount is tiny relative to market cap. Monitor for additional insider buying or upcoming earnings/guidance. The discretionary transactions by directors are non-cash and should be ignored.

Key Facts

CEO Justin Palfreyman purchased 1,225 shares open-market at $48.75 for ~$60K on 2026-05-07
Director Peter Bragdon purchased 400 shares open-market at $50.32 for ~$20K on 2026-05-12
Total open-market purchases: ~$80K, representing ~0.004% of NWN's $2.1B market cap
Four directors also had discretionary transactions (non-cash) on 2026-05-07 totaling ~$147K — these are not open-market trades and carry no economic signal
NWN has 60% analyst bullish consensus (4 Strong Buy, 2 Buy, 4 Hold) and prior NWN reports have a 100% T+20 win rate

Financial Impact

~$80K in open-market purchases, immaterial relative to $2.1B market cap

insider ownership

Risk Factors

Insider buying amount is trivial relative to market cap — may be noise
No material financial catalyst identified in the cluster window
Discretionary transactions by directors could confuse the signal

Market Snapshot

Exchange

NYSE

Sector

Natural Gas Distribution

Analyst Consensus

60% bullish (10 analysts)

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

Document	Accession Number
CLUSTER Data (Synthetic)	cluster-NWN-1778712858062

6 reports for NWN

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for NWN — sortable, filterable
	Type				Now
May 7, 2026 5w ago	Insider Cluster BULLISH ★ 4/10	$50.19 $48.24	▼ −3.89%	▼ −7.02%	$49.86 (−0.66%)
Mar 24, 2026 11w ago	8-K NEUTRAL ★ 4/10	$51.77 $52.18	▲ +0.80%	▼ −8.10%	$49.86 (−3.68%)
Mar 5, 2026 14w ago	Insider Cluster NEUTRAL ★ 2/10	$51.58 $54.66	▲ +5.98%	▲ +9.77%	$49.86 (−3.33%)
Mar 5, 2026 14w ago	Insider Cluster NEUTRAL ★ 3/10	$51.58 $54.66	▲ +5.98%	▲ +9.77%	$49.86 (−3.33%)
Mar 5, 2026 14w ago	Insider Cluster NEUTRAL ★ 2/10	$51.58 $54.66	▲ +5.98%	▲ +9.77%	$49.86 (−3.33%)
Feb 27, 2026 15w ago	8-K BULLISH ★ 8/10	$52.55 $52.83	▲ +0.54%	▲ +8.09%	$49.86 (−5.11%)

US Market Status

Market Closed — Opens in 4h 33m

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