3 Stocks Insiders Are Buying

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Oracle

The Trade: Oracle Corporation ORCL Director Rona Alison Fairhead acquired a total of 2277 shares at an average price of $96.02. To acquire these shares, it cost $218,639.96.

What’s Happening: Oracle recently announced plans to expand its cloud region footprint to support strong customer demand for Oracle Cloud services worldwide.

What Oracle Does: Oracle provides database technology and enterprise resource planning, or ERP, software to enterprises around the world. Founded in 1977, Oracle pioneered the first commercial SQL-based relational database management system.

Fastenal

The Trade: Fastenal Company FAST Director Sarah Nielsen acquired a total of 1000 shares at an average price of $55.76. To acquire these shares, it cost $55,760.00.

What’s Happening: Fastenal Company recently reported third-quarter FY21 sales growth of 10% year-over-year to $1.55 billion.

What Fastenal Does: Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services.

Owens & Minor

The Trade: Owens & Minor, Inc. OMI Director Robert J Henkel bought a total of 1000 shares at an average price of $33.33. The insider spent $33,330.00 to buy those shares.

What’s Happening: Owens & Minor, during August, posted Q2 adjusted EPS of $1.06.

What Owens & Minor Does: Owens & Minor distributes consumable medical supplies to a variety of providers. The company operates in two segments that are Global products and Global Solutions.