The Nasdaq 100 closed lower by over 50 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.

Workday

The Trade: Workday, Inc. ( WDAY ) Director George J Still Jr sold a total of 5,000 shares at an average price of $270.52. The insider received around $1.35 million from selling those shares.

What's Happening: On Feb. 26, Workday reported upbeat earnings for its fourth quarter.

What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.

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Broadcom

The Trade: Broadcom Inc. ( AVGO ) Director Eddy W Hartenstein sold a total of 3,150 shares at an average price of $1,290.34. The insider received around $4.06 million from selling those shares.

What's Happening: On March 7, Broadcom ( AVGO ) reported quarterly earnings of $10.99 per share which beat the analyst consensus estimate of $10.29, a 6.39% increase over earnings of $10.33 per share from the same period last year.

What Broadcom Does: Broadcom ( AVGO ) is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue.

BorgWarner

The Trade: BorgWarner Inc. ( BWA ) Vice President Stefan Demmerle sold a total of 3,000 shares at an average price of $33.00. The insider received around $99,000 from selling those shares.

What's Happening: On March 1, BorgWarner ( BWA ) appointed Amy Kulikowski as Vice President and Chief Accounting Officer.

What BorgWarner Does: BorgWarner ( BWA ) is a Tier I auto-parts supplier with three operating segments. The air management group makes turbochargers, e-boosters, e-turbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, powertrain sensors, and cabin heaters.

Kraft Heinz

The Trade: The Kraft Heinz Company ( KHC ) Chief Omnich Sales & AEM Ofcr Cory Onell sold a total of 14,289 shares at an average price of $34.62. The insider received around $494,717 from selling those shares.

What's Happening: On Feb. 14, The Kraft Heinz Company ( KHC ) reported weaker-than-expected sales for its fourth quarter.

What Kraft Heinz Does: In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth-largest player in the world.

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