The Nasdaq 100 closed lower by over 1% 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.

Lyft

The Trade: Lyft, Inc. ( LYFT ) Chief Accounting Officer Lisa Blackwood-Kapral sold a total of 9,083 shares at an average price of $15.67. The insider received around $142,315 from selling those shares.

What's Happening: On May 30, Needham analyst Bernie McTernan reiterated Lyft ( LYFT ) with a Hold.

What Lyft Does: Lyft ( LYFT ) is the second-largest ride-sharing service provider in the us and Canada, connecting riders and drivers over the Lyft ( LYFT ) app.

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Cars.com

The Trade: Cars.com Inc. ( CARS ) CEO Thomas Alex Vetter sold a total of 25,373 shares at an average price of $19.00. The insider received around $482,087 from selling those shares.

What's Happening: On May 9, Cars.com ( CARS ) posted upbeat quarterly results.

What Cars.com Does: Cars.com Inc ( CARS ) is an online destination for buying and selling new and used vehicles.

Cirrus Logic

The Trade: Cirrus Logic, Inc. ( CRUS ) Director Alexander M Davern sold a total of 1,000 shares at an average price of $115.85. The insider received around $115,850 from selling those shares.

What's Happening: Cirrus Logic ( CRUS ) reported the resignation of CFO Venk Nathamuni, effective May 24.

What Cirrus Logic Does: Cirrus Logic Inc ( CRUS ) is a provider of integrated circuits for audio and voice signal processing applications.

Texas Roadhouse

The Trade: Texas Roadhouse, Inc. ( TXRH ) CEO Gerald L. Morgan sold a total of 15,000 shares at an average price of $171.70. The insider received around $2.58 million from selling those shares.

What's Happening: On May 28, JP Morgan analyst John Ivankoe maintained Texas Roadhouse ( TXRH ) with a Neutral and raised the price target from $145 to $184.

What Texas Roadhouse Does: Texas Roadhouse Inc ( TXRH ) is a restaurant company operating predominately in the casual dining segment.

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