$2M Bet On Align Technology? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed lower 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.

StepStone Group

• The Trade: StepStone Group Inc. STEP Director, Head of Strategy Michael I McCabe acquired a total of 80,000 shares an average price of $21.47. To acquire these shares, it cost around $1.72 million.
• What’s Happening: StepStone Group posted downbeat quarterly earnings.
• What StepStone Group Does: StepStone Group Inc is a private market investment firm. The company provides customized investment solutions and advisory and data services.

Align Technology

• The Trade: Align Technology, Inc. ALGN Director Kevin Dallas acquired a total of 7,000 shares at an average price of $285.26. To acquire these shares, it cost around $2 million.
• What’s Happening: Align Technology recently reported first-quarter financial results and issued guidance.
• What Align Technology Does: Align Technology is the leading manufacturer of clear aligners.

Don’t forget to check out our premarket coverage here

Energy Transfer

• The Trade: Energy Transfer LP ET EVP Bradford Whitehurst bought a total of 10,000 shares at an average price of $12.43. To acquire these shares, it cost around $124.33 thousand.
• 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.

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