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.

Blackstone Mortgage Trust

The Trade: Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Director Henry Nassau acquired a total of 30000 shares at an average price of $32.73. To acquire these shares, it cost $982,029.00.

What’s Happening: The company recently posted upbeat quarterly results.

What Blackstone Mortgage Trust Does: Blackstone Mortgage Trust Inc is a real estate finance company primarily involved in the origination and purchase of senior loans collateralized by commercial properties in North America, Europe, and Australia.

FutureFuel

The Trade: FutureFuel Corp. (NYSE:FF) Director Donald C Bedell acquired a total of 5000 shares at an average price of $7.15. To acquire these shares, it cost $35,750.00.

What’s Happening: FutureFuel is expected to release its third quarter 2021 financial results after market close on Tuesday, November 9, 2021.

What FutureFuel Does: FutureFuel makes and sells diversified chemical products, bio-based fuel products, and specialty chemical products. The company is organized into two segments based on product type: biofuels and chemicals.

Sonendo

The Trade: Sonendo, Inc. (NYSE:SONX) Chief Commercial Officer Michael J. Smith bought a total of 53033 shares at an average price of $12.00. The insider spent $80,400.00 to buy those shares.

What’s Happening: The company recently priced its IPO at $12 per share.

What Sonendo Does: Sonendo Inc is a commercial-stage medical technology company focused on saving teeth from tooth decay, the most prevalent chronic disease globally.

Dover

The Trade: Dover Corporation (NYSE:DOV) Vice President, Tax Anthony K Kosinski bought a total of 7309 shares at an average price of $82.09. The insider spent $599,995.81 to buy those shares. The insider also disposed a total of 6309 shares.

What’s Happening: Dover, last month, reported better-than-expected Q3 results and issued FY21 EPS guidance above estimates..

What Dover Does: Dover is a diversified industrial manufacturing company with products and services that include digital printing for fast-moving consuming goods, marking and coding for the food and beverage industry, loaders for the waste collection industry, pumps for the transport of fluids, including petroleum and natural gas, and commercial refrigerators used in groceries and convenience stores.