{"scope": "industry", "title": "Software - Application", "sector": "Technology", "industry": "Software - Application", "intelligence": {"score": 26, "label": "Concentrated distribution", "tone": "negative", "stance": "Review exposure and filing context", "brief": "Priced common-share disposals are concentrated enough to warrant review, but they are not treated as a standalone bearish forecast.", "confidence": 95, "confidence_label": "Deep evidence", "filings": 3747, "companies": 109, "insiders": 702, "signal_events": 2245, "acquisition_events": 156, "disposal_events": 2089, "acquisition_share": 6.9, "disposal_share": 93.1, "acquisition_value": 128139702.819, "disposal_value": 2319411499.4007, "net_value": -2191271796.5817, "acquisition_value_label": "$128.1M", "disposal_value_label": "$2.3B", "net_value_label": "-$2.2B", "data_quality": 64, "priced_common_share": 61, "latest_date": "2026-09-11", "latest_signal_date": "2026-09-11", "oldest_date": "2026-06-19", "evidence_classes": [{"key": "common_equity", "label": "Common equity", "count": 3098, "bar_width": 100.0}, {"key": "equity_award", "label": "Equity compensation", "count": 488, "bar_width": 15.8}, {"key": "derivative", "label": "Options and derivatives", "count": 134, "bar_width": 4.3}, {"key": "other", "label": "Other securities", "count": 27, "bar_width": 0.9}], "roles": [{"label": "Director", "count": 1052, "bar_width": 100.0}, {"label": "Other executive", "count": 886, "bar_width": 84.2}, {"label": "Large holder", "count": 589, "bar_width": 56.0}, {"label": "CEO and chair", "count": 587, "bar_width": 55.8}, {"label": "Finance leadership", "count": 326, "bar_width": 31.0}, {"label": "Other or unspecified", "count": 307, "bar_width": 29.2}], "supports": ["156 distinct acquisition events survive duplicate and security-type controls.", "Participation spans 702 named insiders rather than one filing source.", "The latest qualifying evidence is fresh, dated 11 Sep 2026."], "risks": ["Qualifying disposal events outnumber acquisitions, although disposals receive a lower directional weight."]}, "timeline": [{"start": "2026-06-29", "label": "29 Jun", "acquisitions": 164, "disposals": 198, "qualified_acquisitions": 27, "qualified_disposals": 121, "total": 362, "height": 65.1, "acquisition_height": 45.3, "disposal_height": 54.7}, {"start": "2026-07-06", "label": "06 Jul", "acquisitions": 35, "disposals": 149, "qualified_acquisitions": 7, "qualified_disposals": 131, "total": 184, "height": 33.1, "acquisition_height": 19.0, "disposal_height": 81.0}, {"start": "2026-07-13", "label": "13 Jul", "acquisitions": 112, "disposals": 243, "qualified_acquisitions": 14, "qualified_disposals": 161, "total": 355, "height": 63.8, "acquisition_height": 31.5, "disposal_height": 68.5}, {"start": "2026-07-20", "label": "20 Jul", "acquisitions": 56, "disposals": 106, "qualified_acquisitions": 8, "qualified_disposals": 83, "total": 162, "height": 29.1, "acquisition_height": 34.6, "disposal_height": 65.4}, {"start": "2026-07-27", "label": "27 Jul", "acquisitions": 36, "disposals": 86, "qualified_acquisitions": 10, "qualified_disposals": 74, "total": 122, "height": 21.9, "acquisition_height": 29.5, "disposal_height": 70.5}, {"start": "2026-08-03", "label": "03 Aug", "acquisitions": 76, "disposals": 290, "qualified_acquisitions": 12, "qualified_disposals": 258, "total": 366, "height": 65.8, "acquisition_height": 20.8, "disposal_height": 79.2}, {"start": "2026-08-10", "label": "10 Aug", "acquisitions": 132, "disposals": 403, "qualified_acquisitions": 13, "qualified_disposals": 332, "total": 535, "height": 96.2, "acquisition_height": 24.7, "disposal_height": 75.3}, {"start": "2026-08-17", "label": "17 Aug", "acquisitions": 117, "disposals": 394, "qualified_acquisitions": 22, "qualified_disposals": 325, "total": 511, "height": 91.9, "acquisition_height": 22.9, "disposal_height": 77.1}, {"start": "2026-08-24", "label": "24 Aug", "acquisitions": 48, "disposals": 150, "qualified_acquisitions": 18, "qualified_disposals": 118, "total": 198, "height": 35.6, "acquisition_height": 24.2, "disposal_height": 75.8}, {"start": "2026-08-31", "label": "31 Aug", "acquisitions": 117, "disposals": 439, "qualified_acquisitions": 20, "qualified_disposals": 324, "total": 556, "height": 100.0, "acquisition_height": 21.0, "disposal_height": 79.0}, {"start": "2026-09-07", "label": "07 Sep", "acquisitions": 14, "disposals": 99, "qualified_acquisitions": 5, "qualified_disposals": 86, "total": 113, "height": 20.3, "acquisition_height": 12.4, "disposal_height": 87.6}, {"start": "2026-09-14", "label": "14 Sep", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}], "peers": [{"label": "Software", "score": 72, "confidence": 31}, {"label": "Solar", "score": 54, "confidence": 79}, {"label": "Information Technology Services", "score": 45, "confidence": 91}, {"label": "Scientific & Technical Instruments", "score": 41, "confidence": 94}, {"label": "Electronic Components", "score": 35, "confidence": 97}, {"label": "Semiconductors", "score": 33, "confidence": 96}, {"label": "Communication Equipment", "score": 29, "confidence": 94}, {"label": "Semiconductor Equipment & Materials", "score": 27, "confidence": 96}, {"label": "Software - Application", "score": 26, "confidence": 95}, {"label": "Consumer Electronics", "score": 25, "confidence": 78}, {"label": "Electronics & Computer Distribution", "score": 23, "confidence": 82}, {"label": "Software - Infrastructure", "score": 20, "confidence": 96}, {"label": "Computer Hardware", "score": 17, "confidence": 96}], "leaders": {"constructive": [{"symbol": "IDAI", "name": "Trust Stamp Inc", "score": 87, "confidence": 81}, {"symbol": "AWRE", "name": "Aware Inc", "score": 84, "confidence": 70}, {"symbol": "SCOR", "name": "Comscore Inc", "score": 81, "confidence": 71}, {"symbol": "DUOT", "name": "Duos Technologies Group Inc", "score": 80, "confidence": 59}, {"symbol": "SMRT", "name": "SmartRent Inc", "score": 79, "confidence": 64}, {"symbol": "IDN", "name": "Intellicheck Mobilisa Inc", "score": 78, "confidence": 48}, {"symbol": "FICO", "name": "Fair Isaac Corporation", "score": 76, "confidence": 65}, {"symbol": "VTSI", "name": "VirTra Inc", "score": 75, "confidence": 49}], "cautious": [{"symbol": "BILL", "name": "Bill Com Holdings Inc", "score": 12, "confidence": 73}, {"symbol": "TEAM", "name": "Atlassian Corp Plc", "score": 12, "confidence": 74}, {"symbol": "NOW", "name": "ServiceNow Inc", "score": 12, "confidence": 77}, {"symbol": "RSKD", "name": "Riskified Ltd", "score": 12, "confidence": 86}, {"symbol": "CVLT", "name": "CommVault Systems Inc", "score": 12, "confidence": 87}, {"symbol": "FRSH", "name": "Freshworks Inc", "score": 12, "confidence": 89}, {"symbol": "DT", "name": "Dynatrace Holdings LLC", "score": 12, "confidence": 89}, {"symbol": "DSP", "name": "Viant Technology Inc", "score": 12, "confidence": 89}], "active": [{"symbol": "APPF", "name": "Appfolio Inc", "score": 12, "confidence": 93}, {"symbol": "DDOG", "name": "Datadog Inc", "score": 23, "confidence": 97}, {"symbol": "SNOW", "name": "Snowflake Inc.", "score": 23, "confidence": 98}, {"symbol": "FROG", "name": "Jfrog\u00a0Ltd", "score": 12, "confidence": 100}, {"symbol": "WDAY", "name": "Workday Inc", "score": 12, "confidence": 98}, {"symbol": "EVCM", "name": "EverCommerce Inc", "score": 12, "confidence": 91}, {"symbol": "PCTY", "name": "Paylocity Holding Corporation", "score": 12, "confidence": 95}, {"symbol": "UBER", "name": "Uber Technologies Inc", "score": 35, "confidence": 90}]}, "method": "Group reads measure breadth and conviction across controlled company-level insider evidence; they are classifications, not forecasts."}