$4.5M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mostly higher on Thursday, there were a few notable insider trades.

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.

Energy Transfer

• The Trade: Energy Transfer LP ET Executive Chairman Kelcy Warren acquired a total 350,000 shares an average price of $12.76. To acquire these shares, it cost around $4.47 million.
• What’s Happening: Energy Transfer posted downbeat quarterly results.
• What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.

Axon Enterprise

• The Trade: Axon Enterprise, Inc. AXON Director Hadi Partovi acquired a total of 10,000 shares at an average price of $190.75. To acquire these shares, it cost around $1.91 million.
• What’s Happening: Axon reported better-than-expected first-quarter results.
• What Axon Enterprise Does: Axon Enterprise Inc develops, manufactures, and sells conducted energy devices and cloud-based digital evidence management software designed for use by law enforcement, corrections, military forces, private security personnel, and private individuals for personal defense.

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Perrigo Company

• The Trade: Perrigo Company plc PRGO EVP & President CHCI Svend Andersen bought a total of 2,900 shares at an average price of $33.41. To acquire these shares, it cost around $96.9 thousand.
• What’s Happening: Perrigo reported the FDA approval for nicotine coated mint lozenges.
• What Perrigo Does: Perrigo Co PLC is a private label supplier of generic over the counter (OTC) drugs in the U.S. and Europe.

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