Although Dow futures traded higher this morning on Friday, 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.

JELD-WEN Holding

• The Trade: JELD-WEN Holding, Inc. (NYSE:JELD) 10% owner Turtle Creek Asset Management Inc acquired a total of 453,790 shares at an average price of $21.81. To acquire these shares, it cost around $9.9 million.
• What’s Happening: JP Morgan downgraded JELD-WEN Holding from Neutral to Underweight and lowered the price target from $29 to $23.
• What JELD-WEN Holding Does: JELD-WEN Holding Inc is engaged in door and window manufacturing. The company design, produce and distribute interior and exterior doors, windows, and related products.

Purple Innovation

• The Trade: Purple Innovation, Inc. (NASDAQ:PRPL) 10% owner Coliseum Capital Coinvest Iii Lp acquired a total of 650,000 shares at an average price of $6.47. To acquire these shares, it cost around $4.21 million.
• What’s Happening: Purple Innovation recently announced a $65 million offering of common stock.
• What Purple Innovation Does: Purple Innovation Inc is a comfort innovation company. The company designs, manufactures and sells a range of comfort technology offerings, including mattresses, a pillow, cushions, sheets, bed platforms, and other products.

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