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.

DocuSign

• The Trade: DocuSign, Inc. DOCU President and CEO Daniel Springer acquired a total of 33675 shares at an average price of $143.95. To acquire these shares, it cost $4,847,368.07.
• What’s Happening: Wolfe Research, on Monday, downgraded DocuSign from Outperform to Peer Perform.
• What DocuSign Does: DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.

Continental Resources

• The Trade: Continental Resources, Inc. CLR Director Harold Hamm acquired a total of 117020 shares at an average price of $43.33. To acquire these shares, it cost $5,070,746.24.
• What’s Happening: Continental Resources, last month, reported worse-than-expected Q3 sales results.
• What Continental Resources Does: Continental Resources is a U.S. oil and gas producer targeting in the Bakken Shale in North Dakota, the Delaware Basin in Texas, and the Scoop/Stack plays in Oklahoma.

Perrigo

• The Trade: Perrigo Company plc PRGO Executive Vice President and President of Consumer Healthcare International bought a total of 3655 shares at an average price of $37.10. To acquire these shares, it cost $135,599.40.
• What’s Happening: Perrigo, last month, announced voluntary delisting from The Tel Aviv Stock Exchange.
• What Perrigo Does: Perrigo is the leading provider of over-the-counter generic drugs with over 100 global locations. The company was formed in 1887 as a packager of home remedies and has grown with the migration of prescriptions switching to OTC and later with strategic acquisitions.