The Nasdaq 100 closed higher by around 100 points during Friday'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.

Crocs

• The Trade: Crocs, Inc. (NASDAQ:CROX) Director Douglas J Treff sold a total of 10,594 shares at an average price of $132.38. The insider received around $1.4 million from selling those shares.
• What's Happening: On Aug. 1, Crocs reported stronger-than-expected second-quarter earnings and sales.
• What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children. The reportable geographic segments of the company include the Americas, Asia Pacific, and EMEA.

Netflix

• The Trade: Netflix, Inc. (NASDAQ:NFLX) CFO Spencer Adam Neumann sold a total of 433 shares at an average price of $626.19. The insider received around $271,140 from selling those shares.
• What's Happening: Netflix is in damage control mode after suffering a significant security breach that led to the leak of full episodes from several highly anticipated shows.
• What Netflix Does: Netflix's relatively simple business model involves only one business, its streaming service.

Brown & Brown

• The Trade: Brown & Brown, Inc (NYSE:BRO) EVP, CFO and Treasurer R. Andrew Watts sold a total of 2,500 shares at an average price of $100.32. The insider received around $250,800 from selling those shares.
• What's Happening: On Aug. 12, Wells Fargo analyst Elyse Greenspan upgraded Brown & Brown from Equal-Weight to Overweight and raised the price target from $94 to $112.
• What Brown & Brown Does: Brown & Brown Inc is an insurance agent and broker that offers insurance products and services, primarily in the areas of property, casualty, and employee benefits, by connecting customers with insurance companies.

Sirius XM

• The Trade: Sirius XM Holdings Inc. (NASDAQ:SIRI) Pres. & Chief Content Officer Scott Andrew Greenstein sold a total of 1,447,238 shares at an average price of $3.16. The insider received around $4.6 million from selling those shares.
• What's Happening: On Aug. 1, Sirius XM reported worse-than-expected second-quarter revenue results.
• What Sirius XM Does: Sirius XM Holdings is composed of two businesses: SiriusXM and Pandora. SiriusXM transmits music, talk shows, sports, and news via its two satellite radio networks, primarily to consumers in vehicles who pay a subscription fee.

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