The Nasdaq 100 closed higher by over 100 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.

Nerdy

• The Trade: Nerdy, Inc. (NYSE:NRDY) CFO Jason H. Pello sold a total of 37,360 shares at an average price of $2.07. The insider received around $77,335 from selling those shares.
• What's Happening: On May 7, Nerdy posted better-than-expected quarterly results.
• What Nerdy Does: Nerdy Inc is a curated direct-to-consumer platform for live online learning.

Have a look at our premarket coverage here

Carvana

• The Trade: Carvana Co. (NYSE:CVNA) 10% owner ECG II SPE, LLC sold a total of 120,000 shares at an average price of $118.58. The insider received around $14.23 million from selling those shares.
• What's Happening: Carvana anticipates a surge in used car sales amid a potential oversupply of new vehicles, according to Chief Executive Officer Ernest Garcia III.
• What Carvana Does: Carvana Co is an e-commerce platform for buying and selling used cars.

Goldman Sachs Group

• The Trade: The Goldman Sachs Group, Inc. (NYSE:GS) Executive Vice President John F.W. Rogers sold a total of 14,794 shares at an average price of $466.22. The insider received around $6.9 million from selling those shares.
• What's Happening: On May 7, Wells Fargo analyst Mike Mayo maintained Goldman Sachs with an Overweight and raised the price target from $450 to $504.
• What Goldman Sachs Does: Goldman Sachs is a leading global investment banking and asset management firm.

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