The Nasdaq 100 closed higher by more than 100 points on Friday. 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.

DICK'S Sporting Goods

• The Trade: DICK'S Sporting Goods, Inc. (NYSE:DKS) Director Desiree Ralls-Morrison sold a total of 3,489 shares at an average price of $206.65. The insider received around $721,002 from selling those shares.
• What's Happening: On May 29, Dick's Sporting Goods reported better-than-expected first-quarter FY24 earnings and raised the outlook.
• What DICK'S Sporting Goods Does: Dick's Sporting Goods retails athletic apparel, footwear, and equipment for sports.

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Regeneron Pharmaceuticals

• The Trade: Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) EVP General Counsel and Secretary Joseph J Larosa sold a total of 1,866 shares at an average price of $1,088.95. The insider received around $2.03 million from selling those shares.
• What's Happening: On July 11, Morgan Stanley analyst Matthew Harrison maintained Regeneron Pharmaceuticals with an Overweight and lowered the price target from $1,183 to $1,182.
• What Regeneron Pharmaceuticals Does: Regeneron Pharmaceuticals discovers, develops, and commercializes products that fight eye disease, cardiovascular disease, cancer, and inflammation.

SMART Global Holdings

• The Trade: SMART Global Holdings, Inc. (NASDAQ:SGH) President, LED Solutions Joseph Gates Clark sold a total of 5,000 shares at an average price of $29.00. The insider received around $145,006 from selling those shares.
• What's Happening: On July 9, SMART Global reported better-than-expected third-quarter financial results.
• What SMART Global Does: SMART Global Holdings Inc is a designer and manufacturer of electronic products focused on memory and computing technology areas.

Moderna

• The Trade: Moderna, Inc. (NASDAQ:MRNA) Director Noubar Afeyan sold a total of 15,000 shares at an average price of $117.08. The insider received around $1.8 million from selling those shares.
• What's Happening: Moderna is expected to report its second quarter financial results on Thursday, Aug. 1.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

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