The Nasdaq 100 closed higher by around 3% on Thursday. 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.

Macerich

• The Trade: The Macerich Company (NYSE:MAC) President Edward C Coppola sold a total of 50,000 shares at an average price of $17.20. The insider received over $860,045 from selling those shares.
• What's Happening: On Feb. 7, Macerich posted in-line quarterly earnings.
• What Macerich Does: The Macerich Company is an S&P 500 company that invests in premium mall assets. The company owns 28 regional malls in its consolidated portfolio and 16 regional malls in its unconsolidated portfolio along with four power centers and seven other real estate assets.

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Flex

• The Trade: Flex Ltd. (NASDAQ:FLEX) EVP, General Counsel David Scott Offer sold a total of 150,000 shares at an average price of $27.46. The insider received around $4.12 million from selling those shares.
• What's Happening: On Jan. 31, Flex reported better-than-expected third-quarter financial results.
• What Flex Does: Flex Ltd is a contract manufacturing company providing comprehensive electronics design, manufacturing, and product management services to global electronics and technology companies.

eBay

• The Trade: eBay Inc. (NASDAQ:EBAY) SVP, Chief Product Officer Edward O Garcia sold a total of 1,165 shares at an average price of $43.03. The insider received around $50,130 from selling those shares.
• What's Happening: On Feb. 15, eBay announced the appointment of Zane Rowe to its Board of Directors.
• What eBay Does: EBay operates one of the largest e-commerce marketplaces in the world, with $74 billion in 2022 gross merchandise volume, or GMV, rendering the firm a top 10 global e-commerce company.

Alphabet

• The Trade: Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) CEO Sundar Pichai sold a total of 22,500 shares at an average price of $143.08. The insider received around $3.2 million from selling those shares.
• What's Happening: Alphabet's Google has put a temporary halt on its Gemini AI's ability to generate images of people after inaccuracies in the representation of historical figures were discovered.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google's other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue.