Although U.S. stocks closed mixed on Tuesday, 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.

Zillow Group

• The Trade: Zillow Group, Inc. (NASDAQ:ZG) Director Jay C Hoag acquired a total of 2,338,036 shares at an average price of $42.76. To acquire these shares, it cost around $99.97 million.
• What's Happening: On May 1, Zillow posted upbeat quarterly results.
• What Zillow Does: Zillow Group Inc is an Internet-based real estate company that offers its customers an on-demand experience for selling, buying, renting, or financing with transparency and ease.

Fastenal

• The Trade: Fastenal Company (NASDAQ:FAST) Director Hsenghung Sam Hsu acquired a total of 1,000 shares at an average price of $63.12. To acquire these shares, it cost around $63,115.
• What's Happening: On April 11, Fastenal posted worse-than-expected first-quarter financial results.
• What Fastenal Does: Fastenal opened its first fastener store in 1967 in Winona, Minnesota.

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Deluxe

• The Trade: Deluxe Corporation (NYSE:DLX) President and CEO Barry C McCarthy bought a total of 2,440 shares at an average price of $21.63. To acquire these shares, it cost around $52,777.
• What's Happening: On May 1, Deluxe posted better-than-expected quarterly earnings.
• What Deluxe Does: Deluxe Corporation engaged in providing payment solutions.

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