The Nasdaq 100 closed higher by around 1% on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. 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.

NVIDIA

• The Trade: NVIDIA Corporation (NASDAQ:NVDA) President and CEO Jen Hsun Huang sold a total of 240,000 shares at an average price of $123.26. The insider received around $29.58 million from selling those shares.
• What's Happening: On July 5, New Street Research analyst Pierre Ferragu downgraded NVIDIA from Buy to Neutral.
• What NVIDIA Does: Nvidia is a leading developer of graphics processing units.
• Benzinga Pro's earnings calendar was used to track NVDA’s upcoming earnings report.

Have a look at our premarket coverage here

Amazon.com

• The Trade: Amazon.com, Inc. (NASDAQ:AMZN) Executive Chair Jeffrey P Bezos sold a total of 1,664,886 shares at an average price of $200.07. The insider received around $333.1 million from selling those shares.
• What's Happening: Australia's top-secret intelligence data will be migrated to the cloud under a $2 billion deal with Amazon.com's cloud service Amazon Web Services. This decision is expected to enhance the country's defense force interoperability with the United States.
• What Amazon.com Does: Amazon is the leading online retailer and marketplace for third party sellers.
• Benzinga Pro's signals feature notified of a potential breakout in AMZN’s shares.

Paycom Software

Blackstone

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