The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Despite bursts of outperformance, small- and mid-cap stocks (SMID) have underperformed large-caps year to date -- as they have over the past six years. But they may be in a better position to generate market-beating returns going forward. SMID companies tend to focus on domestic markets, so their businesses could be less disrupted by the trade and tariff debate, fallout from unrest in the Middle East, the Russian invasion of Ukraine, issues in China, or other geopolitical developments. As well, the prices of SMID stocks generally are lower than the prices of large-caps, with the P/E ratio on the Russell 2000 SmallCap Index at 20, compared to a trailing P/E of 29 for the S&P 500. Finally, there are long stretches in the record books when SMID stocks have outperformed large-caps. SMID risks do carry risk, but diversified investors look to have exposure to small- and mid-caps based on the long-term performance record.

Twilio provides a cloud-based communications platform that enables businesses to embed messaging, voice, video, and authentication capabilities directly into their software applications. The company's platform allows developers to build and manage applications without the complexity of creating and maintaining underlying infrastructure. It completed its initial public offering in June 2016.

We've used this space to highlight cautious insider sentiment so far in 2026, this based on weekly data from Vickers Stock Research. While the stock market has been volatile, the past 30 days have left the S&P 500 off 0.85%, the Nasdaq down 3.2%, and the DJIA up 0.61%. Turning to the broad insider-sentiment indicators from Vickers, the NYSE Eight-Week Sell/Buy is worse this week than last, at 5.61, and just below the bearish zone that runs from 6.0 and up. The Nasdaq eight-week ratio is a little better this week at 6.09, but remains bearish. And finally, the Total (all exchanges) ratio is flat week over week at a neutral, but almost bearish, 5.77. Things get interesting when we look at Vickers' sector sell/buy ratios. Energy, the top-performing sector year to date according to Bloomberg, now logs a neutral eight-week ratio, having been bullish. Are Energy insiders starting to take profits? Meanwhile, Financial, Bloomberg's worst-performer, sports a bullish ratio (and has for a few weeks now). Are Financial insiders seeing value? And finally, Information Technology, also a bottom-of-the-list performer, had Vickers' only bearish ratio for the past several weeks. But this week, it has improved to neutral. Perhaps these insiders are starting to see a light at the end of the sector tunnel. From a shorter-term sector perspective, only one sector delivered a bullish one-week sell/buy ratio this week: Healthcare. Last week, the sector rang in at neutral. This week, analysts at Vickers highlighted insider transactions of interest at Delta Air Lines Inc. (NYSE: DAL) and Cleveland-Cliffs Inc. (NYSE: CLF).