Although U.S. stocks closed mostly higher 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.

Talos Energy

• The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 1,750,000 shares at an average price of $11.46. To acquire these shares, it cost around $20.05 million.
• What's Happening: On May 6, Talos Energy posted a wider-than-expected quarterly loss.
• What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.

Appian

• The Trade: Appian Corporation (NASDAQ:APPN) Director Albert G.W. Biddle III acquired a total of 11,000 shares at an average price of $28.00. To acquire these shares, it cost around $308,000.
• What's Happening: On May 2, Appian reported worse-than-expected quarterly earnings.
• What Appian Does: Appian is a low-code enterprise platform-as-a-service company focusing on business process management.

Perrigo

• The Trade: Perrigo Company plc (NYSE:PRGO) EVP & President CHCI Svend Andersen bought a total of 1,000 shares at an average price of $27.90. To acquire these shares, it cost around $27,900.
• What's Happening: On May 7, Perrigo posted upbeat quarterly earnings.
• What Perrigo Does: Perrigo is one of the largest consumer health companies in the world. Since 2018, Perrigo divested its animal health and generic pharmaceuticals businesses to solely focus on consumer self-care.

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