The Nasdaq 100 closed higher by around 300 points on Thursday. 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.

Best Buy

The Trade: Best Buy Co., Inc. ( BBY ) SVP, Controller & CAO Mathew Watson sold a total of 3,520 shares at an average price of $82.43. The insider received around $290,154 from selling those shares.

What's Happening: Best Buy Co. ( BBY ) Alphabet's Google Cloud, and Accenture Plc have entered into a new collaboration to deploy generative AI (gen AI) to improve the experience for Best Buy ( BBY ) customers.

What Best Buy Does: With $43.5 billion in consolidated 2023 sales, Best Buy ( BBY ) is the largest pure-play consumer electronics retailer in the U.S., boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data.

Have a look at our premarket coverage here

Box

The Trade: Box, Inc. ( BOX ) CFO Dylan C Smith sold a total of 13,000 shares at an average price of $27.30. The insider received around $354,900 from selling those shares.

What's Happening: On March 20, RBC Capital analyst Rishi Jaluria reiterated Box with an Underperform and maintained a $21 price target.

What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.

Trimble

The Trade: Trimble Inc. ( TRMB ) President and CEO Robert G Painter sold a total of 3,500 shares at an average price of $62.50. The insider received around $218,750 from selling those shares.

What's Happening: On April 2, Piper Sandler analyst Clarke Jeffries maintained Trimble with an Overweight and maintained a $73 price target.

What Trimble Does: Trimble Inc ( TRMB ) provides a technology solutions provider that enables office and mobile professionals to connect their workflows and asset lifecycles to drive a more productive, sustainable future.

MongoDB

The Trade: MongoDB, Inc. ( MDB ) Director Dwight A Merriman sold a total of 2,000 shares at an average price of $365.00. The insider received around $730,000 from selling those shares.

What's Happening: MongoDB ( MDB ) expanded its collaboration with Google Cloud.

What MongoDB Does: Founded in 2007, MongoDB ( MDB ) is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users. MongoDB ( MDB ) provides both licenses as well as subscriptions as a service for its NoSQL database.

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