The Nasdaq 100 closed lower by around 8 points on Monday. 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.

Amazon.com

• The Trade: Amazon.com, Inc. (NASDAQ:AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 1,000 shares at an average price of $183.27. The insider received around $183,265 from selling those shares.
• What’s Happening: Amazon.com is restarting construction of a 42-story office tower in Bellevue, a Seattle suburb, after halting work on 22 floors since 2022. The pause in 2022 affected five towers in Bellevue and new offices in Virginia and Nashville as Amazon evaluated the pandemic’s impact on in-office work dynamics.
• What Amazon.com Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.

Have a look at our premarket coverage here

MongoDB

• The Trade: MongoDB, Inc. (NASDAQ:MDB) Chief Revenue Officer Cedric Pech sold a total of 4,726 shares at an average price of $350.00. The insider received around $1.65 million from selling those shares.
• What’s Happening: On March 28, Tigress Financial analyst Ivan Feinseth maintained MongoDB with a Buy and raised the price target from $495 to $500.
• What MongoDB Does: Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users.

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