The Nasdaq 100 closed higher by around 1.2% on Friday. 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.

Ciena

• The Trade: Ciena Corporation (NYSE:CIEN) President and CEO Gary B Smith sold a total of 4,166 shares at an average price of $42.15. The insider received around $175,614 from selling those shares.
• What’s Happening: Ciena reported upbeat third-quarter results.
• What Ciena Does: Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks.

Have a look at our premarket coverage here

Amkor Technology

• The Trade: Amkor Technology, Inc. (NASDAQ:AMKR) EVP and General Counsel Mark N Rogers sold a total of 5,000 shares at an average price of $23.84. The insider received around $119,200 from selling those shares.
• What’s Happening: Amkor Technology reported a year-over-year decrease in third-quarter EPS results and issued fourth-quarter revenue guidance below estimates.
• What Amkor Technology Does: Amkor Technology Inc is a provider of outsourced semiconductor packaging and test services to integrated device manufacturers, fabless semiconductor companies, and contract foundries.

Walmart

Amazon.com

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