$5M Bet On FIGS? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed on Wednesday, 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.

Grocery Outlet

• The Trade: Grocery Outlet Holding Corp. GO Director Erik Ragatz acquired a total of 111,375 shares an average price of $27.27. To acquire these shares, it cost around $3.04 million
• What’s Happening: Grocery Outlet reported better-than-expected Q4 results.
• What Grocery Outlet Does: Grocery Outlet Holding Corp is a grocery store operator in the United States.

FIGS

• The Trade: FIGS, Inc. FIGS CEO Catherine E. Spear acquired a total of 790,000 shares at an average price of $6.30. To acquire these shares, it cost around $4.98 million.
• What’s Happening: Figs reported better-than-expected quarterly earnings.
• What FIGS Does: FIGS Inc is a healthcare apparel company. It offers more fitted scrubs for men and women made of its proprietary fabric FIONx, which provides four-way stretch and has anti-odor, anti-wrinkle and moisture-wicking properties.

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SM Energy

• The Trade: SM Energy Company SM President and CEO Herbert Vogel bought a total of 2,000 shares at an average price of $31.07. To acquire these shares, it cost around $62.13 thousand.
• What’s Happening: SM Energy posted upbeat quarterly results.
• What SM Energy Does: SM Energy Co is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids.

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