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.

Krispy Kreme

What’s Happening: Krispy Kreme recently launched the brand's first location in Egypt with its franchise partner Americana Group.

What Krispy Kreme Does: Krispy Kreme is a sweet treat brand. It is an omnichannel business operating through a network of doughnut shops, partnerships with leading retailers, and a growing e-Commerce and delivery business.

Sensient Technologies

The Trade: Sensient Technologies Corporation (NYSE:SXT) 10% owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd acquired a total of 22608 shares at an average price of $87.35. To acquire these shares, it cost $1,974,913.65.

What’s Happening: Sensient Technologies, in July, reported upbeat quarterly results.

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

Cerevel Therapeutics

What’s Happening: Cerevel Therapeutics, last month, reported a Q2 loss of $0.42 per share.

What Cerevel Therapeutics Does: Cerevel Therapeutics Holdings Inc is dedicated to unraveling the mysteries of the brain to treat neuroscience diseases.