The Nasdaq 100 closed higher by around 0.2% during Monday'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.

Philip Morris International

• The Trade: Philip Morris International Inc. (NYSE:PM) President, Europe Region Massimo Andolina sold a total of 9,000 shares at an average price of $115.35. The insider received around $1.04 million from selling those shares.
• What's Happening: On July 23, Philip Morris International shares are trading higher after the company reported better-than-expected second-quarter financial results and raised its FY24 adjusted EPS guidance.
• What Philip Morris International Does: Created from the international operations of Altria in 2008, Philip Morris International sells cigarettes and reduced-risk products, including heatsticks, vapes, and oral nicotine offerings primarily outside of the US.
• Benzinga Pro's real-time newsfeed alerted to latest PM 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 $103.82. The insider received around $24.9 million from selling those shares.
• What's Happening: On Aug. 6, New Street Research upgraded the stock from Neutral to Buy.
• 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.

Zillow

Paycom Software

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