The Nasdaq 100 closed lower by over 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.

Alphabet

• The Trade: Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold a total of 22,500 shares at an average price of $162.35. The insider received around $3.7 million from selling those shares.
• What's Happening: YouTube Shorts, Google's answer to TikTok, has hit a 1 lakh crore (1 trillion) view mark in India.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.
• Benzinga Pro's real-time newsfeed alerted to latest GOOGL news.

Apple

• The Trade: Apple Inc. (NASDAQ:AAPL) SVP, GC and Secretary Katherine L. Adams sold a total of 104,500 shares at an average price of $206.44. The insider received around $20.6 million from selling those shares.
• What's Happening: Apple could charge its users up to $20 for its advanced artificial intelligence features, according to a top analyst. The move could further bolster the company's already lucrative services business.
• What Apple Does: Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses.
• Benzinga Pro's charting tool helped identify the trend in AAPL stock.

Bank of America

• The Trade: Bank of America Corporation (NYSE:BAC) Pres, Merrill Wealth Mgmt Lindsay D. Hans sold a total of 10,901 shares at an average price of $36.92. The insider received around $402,410 from selling those shares.
• What's Happening: On Aug. 5, Bank of America announced full redemption of its Series X preferred stock and related depositary shares.
• What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.
• Benzinga Pro's signals feature notified of a potential breakout in BAC shares.

Western Digital

• The Trade: Western Digital Corporation (NASDAQ:WDC) EVP & GM, Flash Business Robert Soderbery sold a total of 12,154 shares at an average price of $57.09. The insider received around $693,860 from selling those shares.
• What's Happening: On July 31, Western Digital reported quarterly earnings of $1.44 per share, which beat the analyst consensus estimate of $1.18 per share.
• What Western Digital Does: Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives.
• Benzinga Pro's earnings calendar was used to track WDC's earnings reports.

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