The Nasdaq 100 closed higher by around 0.1% 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.

AutoNation

The Trade: AutoNation, Inc. ( AN ) 10% owner Edward S Lampert sold a total of 263,100 shares at an average price of $163.35. The insider received around $42.98 million from selling those shares.

What's Happening: On Feb. 13, the company reported fourth-quarter adjusted EPS of $5.02, beating the street view of $4.95.

What AutoNation Does: AutoNation ( AN ) is the second largest automotive dealer in the United States, with 2023 revenue of about $27 billion and over 250 dealerships, plus 53 collision centers.

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Array Technologies

The Trade: Array Technologies, Inc. ( ARRY ) CEO Kevin G. Hostetler sold a total of 8,176 shares at an average price of $12.30. The insider received around $100,565 from selling those shares.

What's Happening: On March 22, BMO Capital analyst Ameet Thakkar initiated coverage on Array Technologies ( ARRY ) with a Market Perform rating and announced a price target of $16.

What Array Technologies Does: Array Technologies Inc ( ARRY ) manufacturer of ground-mounting systems used in solar energy projects.

Analog Devices

The Trade: Analog Devices, Inc. ( ADI ) Director James Champy sold a total of 1,228 shares at an average price of $197.64. The insider received around $242,702 from selling those shares.

What's Happening: On March 11, Cantor Fitzgerald analyst C J Muse reiterated Analog Devices ( ADI ) with a Neutral and maintained a $205 price target.

What Analog Devices Does: Analog Devices ( ADI ) is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa.

McDonald's

The Trade: McDonald's Corporation President, McDonald's USA Joseph M. Erlinger sold a total of 1,099 shares at an average price of $ $284.38. The insider received around $312,534 from selling those shares.

What's Happening: On March 19, TD Cowen analyst Andrew Charles reiterated McDonald's with an Outperform and maintained a $325 price target.

What McDonald's Does: McDonald's is the largest restaurant owner-operator in the world, with 2023 system sales of $130 billion across nearly than 42,000 stores and 115 markets.

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