Although U.S. stocks closed 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.

BILL Holdings

• The Trade: BILL Holdings, Inc. (NYSE:BILL) Director Brian Jacobs acquired a total of 25,000 shares at an average price of $53.54. To acquire these shares, it cost around $1.34 million.
• What's Happening: On Aug. 22, BILL Holdings reported a narrower-than-expected loss for its fourth quarter.
• What BILL Holdings Does: BILL Holdings Inc is a provider of software-as-a-service, cloud-based payments and spend and expense management products, which allow users to automate accounts payable and accounts receivable transactions, enable businesses to easily connect with their suppliers or customers to do business, eliminate expense reports, manage cash flows and improve back office efficiency.

PBF Energy

• The Trade: PBF Energy Inc. (NYSE:PBF) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 267,000 shares at an average price of $32.93. To acquire these shares, it cost around $8.8 million.
• What's Happening: On Aug. 1, PBF Energy posted upbeat quarterly sales.
• What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

Texas Community Bancshares

• The Trade: Texas Community Bancshares, Inc. (NASDAQ:TCBS) Director Anthony Scavuzzo bought a total of 15,000 shares at an average price of $13.99. To acquire these shares, it cost around $209,850.
• What's Happening: On Aug. 27, Texas Community Bancshares declared the payment of a quarterly cash dividend in the amount of 4 cents per share.
• What Texas Community Bancshares Does: Texas Community Bancshares Inc is a holding company. The company's business consists of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings from the Federal Home Loan Bank of Dallas, in residential real estate loans and commercial real estate loans and, to a lesser extent, commercial loans, construction and land loans, and consumer and other loans.

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