The S&P 500 closed lower for the third consecutive session 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.

NVIDIA

The Trade: NVIDIA Corporation (NASDAQ:NVDA) Director Mark A Stevens sold a total of 118,602 shares at an average price of $431.03. The insider received around $51.12 million from selling those shares.

What’s Happening: Despite U.S. sanctions, high-end Nvidia AI chips are being sold in China’s underground market, Reuters reported.

What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including PC gaming and data centers.

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