The Nasdaq 100 closed higher by around 0.1% during Wednesday'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.

Conagra Brands

The Trade: Conagra Brands, Inc. ( CAG ) EVP and COO Thomas M McGough sold a total of 40,000 shares at an average price of $30.29. The insider received around $1.2 million from selling those shares.

What's Happening: On Aug. 12, Goldman Sachs analyst Leah Jordan initiated coverage on Conagra Brands ( CAG ) with a Buy rating and announced a price target of $36.

What Conagra Brands Does: Conagra Brands ( CAG ) is a packaged food company that operates predominantly in the United States (over 90% of fiscal 2024 revenue).

T-Mobile US

The Trade: T-Mobile US, Inc. ( TMUS ) President and CEO G Michael Sievert sold a total of 40,000 shares at an average price of $194.82. The insider received around $7.8 million from selling those shares.

What's Happening: On Aug. 12, Tigress Financial analyst Ivan Feinseth maintained T-Mobile with a Buy and raised the price target from $205 to $235.

What T-Mobile US Does: Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, and that firm merged with Sprint in 2020, creating the second-largest wireless carrier in the us T-Mobile now serves 77 million postpaid and 21 million prepaid phone customers, equal to around 30% of the us retail wireless market.

Upstart

The Trade: Upstart Holdings, Inc. ( UPST ) CFO Sanjay Datta sold a total of 1,500 shares at an average price of $35.39. The insider received around $53,085 from selling those shares.

What's Happening: On Aug. 6, Upstart reported better-than-expected second-quarter financial results.

What Upstart Does: Upstart Holdings Inc ( UPST ) provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform.

Pfizer

The Trade: Pfizer Inc ( PFE ) SVP and Controller Jennifer B. Damico sold a total of 5,154 shares at an average price of $28.66. The insider received around $147,714 from selling those shares.

What's Happening: On Aug. 12, Pfizer ( PFE ) released top-line safety and immunogenicity results from substudy B of the ongoing pivotal MONeT Phase 3 trial,evaluating two doses of Abrysvo vaccine in immunocompromised adults aged 18 and older at risk of developing severe respiratory syncytial virus-associated lower respiratory tract disease.

What Pfizer Does: Pfizer ( PFE ) is one of the world’s largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales).

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