Although U.S. stocks closed mostly lower on Thursday, 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.

Workday

• The Trade: Workday, Inc. (NASDAQ:WDAY) Co-CEO Carl Eschenbach acquired a total of 8,676 shares shares an average price of $240.44. To acquire these shares, it cost around $2.09 million.
• What’s Happening: Inhibrx announced a $200 million private placement financing.
• What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.

Impinj

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