Although U.S. stocks closed higher 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.

Advance Auto Parts

The Trade: Advance Auto Parts, Inc. ( AAP ) Director Brent Windom acquired a total of 2,683 shares an average price of $80.57. To acquire these shares, it cost around $216,173.

What's Happening: On March 19, Mizuho analyst David Bellinger initiated coverage on Advance Auto Parts ( AAP ) with a Neutral rating and announced a price target of $78.

What Advance Auto Parts Does: Advance Auto Parts ( AAP ) is one of the industry's retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers and third-party vehicle repair facilities in North America.

Guardant Health

The Trade: Guardant Health, Inc. ( GH ) Chief Information Officer Kumud Kalia acquired a total of 2,187 shares at an average price of $17.82. To acquire these shares, it cost around $38,963.

What's Happening: On Feb. 22, Guardant Health ( GH ) issued 2024 revenue guidance with a midpoint below estimates.

What Guardant Health Does: Guardant Health, Inc ( GH ), based in Redwood City, California, is a leader in liquid-based cancer tests for clinical and research use.

Don't forget to check out our premarket coverage here

NB Bancorp

The Trade: NB Bancorp, Inc. ( NBBK ) Director Joseph R Nolan Jr bought a total of 10,000 shares at an average price of $13.50. To acquire these shares, it cost around $135,000.

What's Happening: On Feb. 29, NB Bancorp ( NBBK ) posted an increase in FY23 sales results.

What NB Bancorp Does: NB Bancorp Inc ( NBBK ) operates as the holding company of Needham Bank.

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