Although US stocks closed mostly 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.

Datadog

• The Trade: Datadog, Inc. (NASDAQ:DDOG) Director Matthew Jacobson acquired a total of 192,154 shares an average price of $69.35. To acquire these shares, it cost around $13.33 million.
• What’s Happening: Datadog, last month, reported better-than-expected Q3 EPS and sales results..
• What Datadog Does: Datadog is a cloud-native company that focuses on analyzing machine data.

Ball Corporation

• The Trade: Ball Corporation (NYSE:BALL) President and CEO William Daniel Fisher acquired a total of 6,400 shares at an average price of $54.42. To acquire these shares, it cost around $348.32 thousand.
• What’s Happening: Ball, last month, reported better-than-expected Q3 sales results.
• What Ball Does: Ball is the world's largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America)

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Howard Hughes

Aura Biosciences