The Nasdaq 100 closed higher by over 100 points on Thursday. 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.

Cogent Communications

• The Trade: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Chairman, CEO and President David Schaeffer sold a total of 45,000 shares at an average price of $66.87. The insider received around $3.01 million from selling those shares.
• What’s Happening: Cogent Communications shar reported better-than-expected second-quarter earnings results.
• What Cogent Communications Does: Cogent carries over one fifth of the world's internet traffic over its network and is a broadband provider for businesses.

Have a look at our premarket coverage here

Weyerhaeuser

• The Trade: Weyerhaeuser Company (NYSE:WY) Senior Vice President Denise Merle sold a total of 7,500 shares at an average price of $32.29. The insider received around $242,152 from selling those shares.
• What’s Happening: Weyerhaeuser posted better-than-expected quarterly earnings.
• What Weyerhaeuser Does: Weyerhaeuser ranks among the world's largest forest product companies.

Trimble

Mesa Laboratories

Check This Out: Top 5 Tech And Telecom Stocks You May Want To Dump In Q3