U.S. gold futures traded higher this morning on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

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Ciena

The Trade: Ciena Corporation (NYSE:CIEN) SVP, Networking Platforms Scott McFeely sold a total of 4,000 shares at an average price of $42.37. The insider received around $169.48 thousand from selling those shares.

What’s Happening: JP Morgan recently downgraded Ciena from Overweight to Neutral and lowered the price target from $62 to $45.

What Ciena Does: Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks.

NetApp

The Trade: NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda sold a total of 18,000 shares at an average price of $69.82. The insider received around $1.26 million from selling those shares.

What’s Happening: Susquehanna recently downgraded NetApp from Positive to Neutral and lowered the price target from $100 to $75.

What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance.