The Nasdaq 100 closed lower by over 180 points during Friday's session. 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.

Bank of America

• The Trade: Bank of America Corporation (NYSE:BAC) CEO Sundar Pichai sold a total of 33,890,927 shares at an average price of $43.56. The insider received around $1.48 billion from selling those shares.
• What's Happening: On July 19, Bank of America declared preferred stock dividends for the third quarter.
• What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets.
• Benzinga Pro's real-time newsfeed alerted to latest BAC news.

NVIDIA

• The Trade: NVIDIA Corporation (NASDAQ:NVDA) President and CEO Jen Hsun Huang sold a total of 240,000 shares at an average price of $119.50. The insider received around $28.7 million from selling those shares.
• What's Happening: Nvidia on Thursday disclosed a stake of 62,500 shares in Serve Robotics at an average price of $4 per share.
• What NVIDIA Does: Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs.
• Benzinga Pro's charting tool helped identify the trend in NVDA stock.

Bank of New York Mellon

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