The Nasdaq Composite closed higher on Wednesday. Investors, meanwhile, focused on some notable insider trades.

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.

DoubleVerify Holdings

• The Trade: DoubleVerify Holdings, Inc. (NYSE:DV) Director Robert Davis Noell sold a total of 14,375,000 shares at an average price of $26.50. The insider received around $380.94 million from selling those shares.
• What’s Happening: The company announced the launch of an underwritten offering of 12,500,000 shares of its common stock by Providence VII U.S. Holdings L.P. and Providence Butternut Co-Investment L.P..
• What DoubleVerify Holdings Does: DoubleVerify Holdings Inc is a digital media measurement and analytics software platform.

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Xponential Fitness

• The Trade: Xponential Fitness, Inc. (NYSE:XPOF) CEO Anthony Geisler sold a total of 152,399 shares at an average price of $30.37. The insider received around $4.48 million from selling those shares.
• What’s Happening: Xponential Fitness reported better-than-expected Q4 EPS and sales results.
• What Xponential Fitness Does: Xponential Fitness Inc is a curator of boutique fitness brands.

New Jersey Resources

• The Trade: New Jersey Resources Corporation (NYSE:NJR) Senior VP and COO, NJNG Patrick J Migliaccio sold a total of 2,040 shares at an average price of $51.00. The insider received around $104.04 thousand from selling those shares.
• What’s Happening: New Jersey Resources reported better-than-expected Q1 adjusted EPS and sales results.
• What New Jersey Resources Does: New Jersey Resources is an energy services holding company with regulated and nonregulated operations.

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