The Nasdaq 100 closed lower by around 0.1% during Thursday'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.

Meta Platforms

• The Trade: Meta Platforms, Inc. (NASDAQ:META) CFO Susan J Li sold a total of 33,018 shares at an average price of $517.94. The insider received around $17.1 million from selling those shares.
• What's Happening: Mark Zuckerberg-led Meta has reportedly decided to discontinue its custom chip development for its upcoming augmented reality glasses.
• What Meta Does: Meta is the world’s largest online social network, with nearly 4 billion family of apps monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos.
• Benzinga Pro's real-time newsfeed alerted to latest META news.

Bank of America

• The Trade: Bank of America Corporation (NYSE:BAC) President, International Bernard A Mensah sold a total of 92,000 shares at an average price of $39.81. The insider received around $3.7 million from selling those shares.
• What's Happening: Berkshire Hathaway sold shares worth more than $550 million, at an average price of $39.50 per share, over the past few days, according to Barron's.
• 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. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.
• Benzinga Pro’s charting tool helped identify the trend in BAC stock.

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