The Nasdaq 100 closed lower by over 0.2% during Tuesday's session. 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.

Electronic Arts

The Trade: Electronic Arts Inc. ( EA ) EVP & Chief Financial Officer Stuart Canfield sold a total of 1,260 shares at an average price of $148.37. The insider received around $186,950 from selling those shares.

What's Happening: On July 30, Electronic Arts ( EA ) reported first-quarter net bookings of $1.26 billion, down from $1.58 billion in last year’s first quarter total of $1.58 billion, according to data from Benzinga Pro.

What Electronic Arts Does: EA is one of the world’s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

Benzinga Pro's real-time newsfeed alerted to latest EA news.

M&T Bank

The Trade: M&T Bank Corporation ( MTB ) Director Kirk W Walters sold a total of 9,407 shares at an average price of $24.60. The insider received around $231,412 from selling those shares.

What's Happening: On Aug. 15, Wells Fargo analyst Mike Mayo downgraded M&T Bank ( MTB ) from Equal-Weight to Underweight and lowered the price target from $170 to $165.

What M&T Bank Does: M&T Bank ( MTB ) is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey.

Benzinga Pro’s charting tool helped identify the trend in MTB stock.

Xcel Energy

The Trade: Xcel Energy Inc. ( XEL ) SVP, Strategy and External Aff Frank P Prager sold a total of 2,041 shares at an average price of $59.50. The insider received around $121,440 from selling those shares.

What's Happening: On Aug. 1, Xcel Energy ( XEL ) posted downbeat quarterly results.

What Xcel Energy Does: Xcel Energy ( XEL ) manages utilities serving 3.8 million electric customers and 2.2 million natural gas customers in eight states.

Benzinga Pro’s signals feature notified of a potential breakout in XEL shares.

Home Depot

The Trade: The Home Depot, Inc. ( HD ) SVP-Finance, CAO & Controller Kimberly R Scardino sold a total of 1,700 shares at an average price of $363.00. The insider received around $617,100 from selling those shares.

What's Happening: On Aug. 13, HD reported second-quarter 2024 sales growth of 0.6% year-over-year to $43.175 billion, marginally missing the consensus estimate of $43.376 billion.

What Home Depot Does: Home Depot ( HD ) is the world’s largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the US, Canada, and Mexico.

Benzinga Pro’s earnings calendar was used to track upcoming HD’s earnings reports.

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