The Nasdaq 100 closed lower by around 0.4% on Monday. 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.

Synaptics

The Trade: Synaptics Incorporated ( SYNA ) Vikram Gupta sold a total of 3,616 shares at an average price of $105.75. The insider received around $382,375 from selling those shares.

What's Happening: On Feb. 17, Synaptics ( SYNA ) announced the resignation of its Chief Financial Officer, Dean Butler.

What Synaptics Does: Synaptics Inc ( SYNA ) is a global producer of semiconductor solutions for the mobile, PC, and Internet of Things markets.

Have a look at our premarket coverage here

Toll Brothers

The Trade: Toll Brothers, Inc. ( TOL ) CFO Martin P. Connor sold a total of 5,000 shares at an average price of $116.05. The insider received around $580,235 from selling those shares.

What's Happening: On Feb. 29, Toll Brothers ( TOL ) announced opening of new luxury home community in Lakewood Ranch, Florida.

What Toll Brothers Does: Toll Brothers ( TOL ) is the leading luxury homebuilder in the United States with an average sale price well above public competitors'.

Wayfair

The Trade: Wayfair Inc. ( W ) Chief Operating Officer

Thomas Netzer sold a total of 20,000 shares at an average price of $59.72. The insider received around $1.19 million from selling those shares.

What's Happening: On Feb. 22, Wayfair ( W ) reported fourth-quarter revenue of $3.114 billion, up 0.4% year over year. Revenue marginally surpassed the analyst consensus of $3.106 billion.

What Wayfair Does: Wayfair ( W ) engages in e-commerce in the United States (86% of 2022 sales), Canada, the United Kingdom, Germany, and Ireland.

Snap

The Trade: Snap Inc. ( SNAP ) General Counsel Michael J. O'Sullivan sold a total of 18,160 shares at an average price of $11.06. The insider received around $200,802 from selling those shares.

What's Happening: On Feb. 12, Snap announced that it entered into various privately negotiated repurchase transactions.

What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.

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