Although US stocks closed 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.

Medpace Holdings

• The Trade: Medpace Holdings, Inc. (NASDAQ:MEDP) CEO August J Troendle acquired a total of 188,238 shares an average price of $158.38. To acquire these shares, it cost around $29.81 million.
• What's Happening: The company's stock dropped around 5% over the past month.
• What Medpace Does: Medpace Holdings Inc is a clinical contract research organization. It is engaged in scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries.

Braze

• The Trade: Braze, Inc. (NASDAQ:BRZE) Director Matthew Jacobson acquired a total of 36,747 shares at an average price of $35.26. To acquire these shares, it cost around $1.3 million.
• What's Happening: Braze recently reported Q2 earnings results and issued Q3 2023 adjusted EPS guidance below estimates.
• What Braze Does: Braze Inc is a customer engagement platform that powers customer-centric interactions between consumers and brands.

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VOXX International

• The Trade: VOXX International Corporation (NASDAQ:VOXX) President and CEO Patrick M Lavelle bought a total of 1,400 shares at an average price of $ $7.24. To acquire these shares, it cost around $10.14 thousand.
• What's Happening: VOXX International recently launched a new e-Commerce platform.
• What VOXX International Does: VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries.