The Nasdaq 100 closed slightly higher on Tuesday. 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.

Starbucks

• The Trade: Starbucks Corporation (NASDAQ:SBUX) CEO, North America Michael Aaron Conway sold a total of 3,2500 shares at an average price of $80.00. The insider received around $260,000 from selling those shares.
• What's Happening: On June 13, TD Cowen analyst Andrew Charles reiterated Starbucks with a Hold and maintained a price target of $85.
• What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023.

Have a look at our premarket coverage here

Box

• The Trade: Box, Inc. (NYSE:BOX) VP Chief Acct Ofr & Controller Eli Berkovitch sold a total of 3,300 shares at an average price of $25.90. The insider received around $85,467 from selling those shares.
• What's Happening: On May 28, Box reported quarterly earnings of 39 cents per share which beat the analyst consensus estimate of 36 cents.
• What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.

Paycom Software

• The Trade: Paycom Software, Inc. (NYSE:PAYC) Director, CEO, President and Chairman Chad R. Richison sold a total of 3,900 shares at an average price of $142.18. The insider received around $554,488 from selling those shares.
• What's Happening: On June 18, Citigroup analyst Steven Enders maintained Paycom Software with a Neutral and lowered the price target from $193 to $162.
• What Paycom Software Does: Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States.

Coinbase Global

• The Trade: Coinbase Global, Inc. (NASDAQ:COIN) President and COO Emilie Choi sold a total of 1,500 shares at an average price of $246.16. The insider received around $369,240 from selling those shares.
• What's Happening: On June 18, HC Wainwright & Co. analyst Mike Colonnese reiterated Coinbase with a Buy and maintained a $315 price target.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.