Although U.S. stocks closed 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.

Coupang

• The Trade: Coupang, Inc. (NYSE:CPNG) Director Neil Mehta acquired a total of 300,000 shares at an average price of $22.94. To acquire these shares, it cost around $6.9 million.
• What's Happening: On Aug. 6, Coupang posted a profit for the second quarter. The company reported quarterly earnings of 7 cents per share which beat the analyst consensus estimate for a loss of 1 cent per share. The company reported quarterly sales of $7.32 billion which missed the analyst consensus estimate of $7.38 billion.
• What Coupang Does: Coupang Inc is an e-commerce company. It sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products.

V.F. Corporation

• The Trade: V.F. Corporation (NYSE:VFC) Director Richard Carucci acquired a total of 15,000 shares at an average price of $16.70. To acquire these shares, it cost around $250,500.
• What's Happening: On Aug. 6, V.F. reported better-than-expected first-quarter financial results.
• What V.F. Corporation Does: VF designs, produces, and distributes branded apparel, footwear, and accessories. Its apparel categories are active, outdoor, and work. Its portfolio of about a dozen brands includes Vans, The North Face, Timberland, Altra, and Dickies.

FAT Brands

• The Trade: FAT Brands Inc. (NASDAQ:FAT) Director Mark Elenowitz bought a total of 3,000 shares at an average price of $10.83. To acquire these shares, it cost around $32,483.
• What's Happening: On July 31, FAT Brands posted downbeat quarterly results.
• What FAT Brands Does: FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, acquires and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts around the world.

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