When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

DraftKings

The Trade: DraftKings Inc. (NASDAQ:DKNG) Director John Salter disposed a total of 4567252 shares at an average price of $60.08. The insider received $7,264,585.35 as a result of the transaction.

What’s Happening: DraftKings announced plans to offer its Daily Fantasy Sports in Arizona starting August 28, pending regulatory approval.

What DraftKings Does: DraftKings is a digital sports entertainment and gaming company.

Wendy's

The Trade: The Wendy's Company (NASDAQ:WEN) Director Matthew H Peltz sold a total of 594325 shares at an average price of $23.41. The insider received $13,912,078.02 from selling those shares.

What’s Happening: Wendy's, earlier during the month, reported second-quarter FY21 sales growth of 22.6% year-on-year, to $493.3 million, beating the analyst consensus of $461.63 million.

What Wendy's Does: The Wendy's Co is a quick-service restaurant franchisor, operating restaurants under the brand name Wendy's.

Walmart

The Trade: Walmart Inc. (NYSE:WMT) Director Robson Walton sold a total of 1616821 shares at an average price of $147.08. The insider received $119,843,948.79 as a result of the transaction.

What’s Happening: Walmart’s media business, Walmart Connect, recently launched its new demand-side platform, Walmart DSP.

What Walmart Does: America's largest retailer by sales, Walmart operated over 11,400 stores under 54 banners at the end of fiscal 2021, selling a variety of general merchandise and grocery items.

Carlyle Group

The Trade: The Carlyle Group Inc. (NASDAQ:CG) Director Daniel A. D'Aniello sold a total of 5000000 shares at an average price of $47.10. The insider received $235,500,000.00 from selling those shares.

What’s Happening: The company, last month, reported upbeat quarterly results.

What Carlyle Group Does: The Carlyle Group Inc is a diversified multi-product global alternative asset management firm. The company operates in four business segment which includes Corporate Private Equity, Real Assets, Global Market Strategies, and Fund of Funds Solutions.