The Nasdaq 100 closed lower by more than 100 points on Wednesday. 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.

Bitcoin Depot

The Trade: Bitcoin Depot Inc. ( BTM ) Chief Operating Officer Christopher Scott Buchanan sold a total of 50,000 shares at an average price of $1.75. The insider received around $87,655 from selling those shares.

What's Happening: On April 25, Bitcoin Depot ( BTM ) revealed a strategic investment from Sopris Capital

What Bitcoin Depot Does: Bitcoin Depot Inc ( BTM ) owns and operates the largest network of BTMs across North America where customers can buy and sell Bitcoin. Bitcoin Depot ( BTM ) helps power the digital economy for users of cash.

Have a look at our premarket coverage here

Alphabet

The Trade: Alphabet Inc. ( GOOG ) CEO Sundar Pichai sold a total of 22,500 shares at an average price of $166.80. The insider received around $3.75 million from selling those shares.

What's Happening: On April 30, JMP Securities analyst Andrew Boone reiterated Alphabet with a Market Outperform and maintained a $200 price target.

What Alphabet Does: Alphabet is a holding company. Internet media giant Google ( GOOG ) is a wholly owned subsidiary.

PG&E

The Trade: PG&E Corporation ( PCG ) CEO Patricia K Poppe sold a total of 59,000 shares at an average price of $17.08. The insider received around $1 million from selling those shares.

What's Happening: Pacific Gas & Electric is reportedly nearing a deal to sell a stake in its fleet of power plants to KKR & Co. in an effort to raise funds needed to upgrade infrastructure and reduce the risk of fire resulting from its power lines.

What PG&E Does: PG&E ( PCG ) is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.6 million gas customers in 47 of the state’s 58 counties.

Goldman Sachs

The Trade: The Goldman Sachs Group, Inc. ( GS ) Director David A Viniar sold a total of 5,000 shares at an average price of $432.25. The insider received around $2.16 million from selling those shares.

What's Happening: Goldman Sachs Group ( GS ) is reportedly in discussions to shift its General Motors Company credit-card program to Barclays PLC, marking a huge move in Goldman's withdrawal from consumer lending.

What Goldman Sachs Does: Goldman Sachs ( GS ) is a leading global investment banking and asset management firm.

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