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.

Sensient Technologies

The Trade: Sensient Technologies Corporation SXT 10% owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd acquired a total of 26355 shares at an average price of $92.68. The insider spent $2,442,465.25 to acquire those shares.

What’s Happening: The company’s shares have jumped over 26% since the start of the year.

What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.

Remitly Global

The Trade: Remitly Global, Inc. RELY 10% owner Naspers Ltd, BV Investments Fintech Payu, Nv Prosus acquired a total of 37326745 shares at an average price of $43.00. To acquire these shares, it cost $24,999,985.00.

What’s Happening: The company recently priced its IPO at $43 per share.

What Remitly Global Does: Remitly Global provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels.

Safehold

The Trade: Safehold Inc. SAFE 10% owner Istar Inc bought a total of 13644 shares at an average price of $73.29. To acquire these shares, it cost $999,968.76.

What’s Happening: Safehold recently reported upsizing and pricing of public offering and concurrent private placement.

What Safehold Does: Safehold is a real estate company. It is formed to acquire, own, manage, finance and capitalize ground leases.