The Nasdaq 100 closed higher by around 0.2% during Monday'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.

Philip Morris International

The Trade: Philip Morris International Inc. ( PM ) President, Europe Region Massimo Andolina sold a total of 9,000 shares at an average price of $115.35. The insider received around $1.04 million from selling those shares.

What's Happening: On July 23, Philip Morris International ( PM ) shares are trading higher after the company reported better-than-expected second-quarter financial results and raised its FY24 adjusted EPS guidance.

What Philip Morris International Does: Created from the international operations of Altria in 2008, Philip Morris International ( PM ) sells cigarettes and reduced-risk products, including heatsticks, vapes, and oral nicotine offerings primarily outside of the US.

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

NVIDIA

The Trade: NVIDIA Corporation ( NVDA ) President and CEO Jen Hsun Huang sold a total of 240,000 shares at an average price of $103.82. The insider received around $24.9 million from selling those shares.

What's Happening: On Aug. 6, New Street Research upgraded the stock from Neutral to Buy.

What NVIDIA Does: Nvidia ( NVDA ) is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs.

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

Zillow

The Trade: Zillow Group, Inc. ( ZG ) Chief Accounting Officer Jennifer Rock sold a total of 4,050 shares at an average price of $49.23. The insider received around $199,361 from selling those shares.

What's Happening: On Aug. 12, Susquehanna analyst Shyam Patil maintained Zillow ( ZG ) with a Neutral and raised the price target from $42 to $55..

What Zillow Does: Zillow Group Inc ( ZG ) is an Internet-based real estate company that offers its customers an on-demand experience for selling, buying, renting, or financing with transparency and ease.

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

Paycom Software

The Trade: Paycom Software, Inc. ( PAYC ) Director, CEO, President and Chairman Chad R. Richison sold a total of 3,900 shares at an average price of $158.27. The insider received around $617,257 from selling those shares.

What's Happening: On July 31, Paycom Software ( PAYC ) posted upbeat quarterly earnings.

What Paycom Software Does: Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States.

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

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