The Nasdaq 100 closed higher by around 0.2% 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.

Zoom Video Communications

The Trade: Zoom Video Communications, Inc. ( ZM ) Director Santiago Subotovsky sold a total of 1,100 shares at an average price of $65.38. The insider received around $71,919 from selling those shares.

What's Happening: On March 26, Rosenblatt analyst Catharine Trebnick reiterated Zoom Video with a Neutral and maintained a $75 price target.

What Zoom Video Does: Zoom Video Communications ( ZM ) provides a communications platform that connects people through video, voice, chat, and content sharing.

Have a look at our premarket coverage here

Arrowhead Pharmaceuticals

The Trade: Arrowhead Pharmaceuticals, Inc. ( ARWR ) Chief Discovery/Trans Medicine James C Hamilton sold a total of 6,000 shares at an average price of $28.03. The insider received around $168,180 from selling those shares.

What's Happening: On March 8, Arrowhead Pharmaceuticals ( ARWR ) announced that it initiated its Phase 1/2a study of ARO-DM1 for the treatment of type 1 myotonic dystrophy.

What Arrowhead Pharmaceuticals Does: Arrowhead Pharmaceuticals Inc ( ARWR ) is an American biotechnology company. Its main target is the development of medicine to treat diseases with a genetic origin, characterized by the overproduction of one or more proteins. Its medical solutions are aimed at the genes that trigger the diseases.

Affirm Holdings

The Trade: Affirm Holdings, Inc. ( AFRM ) Director Keith Rabois sold a total of 9,276 shares at an average price of $35.30. The insider received around 327,412 from selling those shares.

What's Happening: On April 3, Needham analyst Kyle Peterson initiated coverage on Affirm Holdings ( AFRM ) with a Hold rating.

What Affirm Holdings Does: Affirm Holdings Inc ( AFRM ) offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app.

NetApp

The Trade: NetApp, Inc. ( NTAP ) President Cesar Cernuda sold a total of 22,000 shares at an average price of $105.03. The insider received around $2.31 million from selling those shares.

What's Happening: On Feb. 29, NetApp ( NTAP ) reported better-than-expected third-quarter financial results and issued guidance.

What NetApp Does: NetApp Inc ( NTAP ) is a leading provider of enterprise data management and storage solutions.

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