The Nasdaq 100 closed slightly lower on Tuesday. 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.

Robinhood

• The Trade: Robinhood Markets, Inc. (NASDAQ:HOOD) Chief Legal Officer Daniel Martin Gallagher Jr sold a total of 12,500 shares at an average price of $17.83. The insider received around $222,863 from selling those shares.
• What's Happening: On May 6, Needham analyst John Todaro reiterated Robinhood Markets with a Hold.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform.

Have a look at our premarket coverage here

First Solar

• The Trade: First Solar, Inc. (NASDAQ:FSLR) Director R Craig Kennedy sold a total of 2,000 shares at an average price of $196.73. The insider received around $393,456 from selling those shares.
• What's Happening: On May 1, First Solar posted upbeat quarterly earnings.
• What First Solar Does: First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects.

American Express

• The Trade: American Express Company (NYSE:AXP) EVP – Controller Quinn Jessica Lieberman sold a total of 3,140 shares at an average price of $232.36. The insider received around $729,770 from selling those shares.
• What's Happening: American Express declared a dividend on Series D Preferred Stock and regular quarterly dividend.
• What American Express Does: American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products.

eBay

• The Trade: eBay Inc. (NASDAQ:EBAY) SVP, General Counsel & Sec. Marie Oh Huber sold a total of 49,070 shares at an average price of $49.63. The insider received around $2.44 million from selling those shares.
• What's Happening: On May 1, eBay posted upbeat quarterly results.
• What eBay Does: Yum Brands is a U.S.-based restaurant operator featuring a portfolio of four brands: KFC (29,900 global units at year-end 2023), Pizza Hut (19,866 units), Taco Bell (8,564 units), and The Habit Burger Grill (381 units).

Check This Out: Uber, Lyft And 3 Stocks To Watch Heading Into Wednesday