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.

Smartsheet

• The Trade: Smartsheet Inc. (NYSE:SMAR) Director James White acquired a total of 150000 shares at an average price of $63.07. To acquire these shares, it cost $9,460,455.00.
• What’s Happening: RBC Capital recently maintained Smartsheet with a Sector Perform and lowered the price target from $73 to $63.
• What Smartsheet Does: Smartsheet Inc provides a cloud-based platform for work execution, that enables teams and organizations to plan, capture, manage, automate, and report on work at a scale which results in more efficient processes and better business outcomes.

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