The Nasdaq Composite dropped around 0.5% on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

Jazz Pharmaceuticals

• The Trade: Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Director Patrick G Enright sold a total of 6,974 shares at an average price of $150.45. The insider received around $1.05 million from selling those shares.
• What’s Happening: Avadel Pharmaceuticals recently announced that the United States District Court for the District of Delaware ordered Jazz Pharmaceuticals to delist U.S. Patent No. 8731963 (the REMS Patent) from the FDA Orange Book.
• What Jazz Pharmaceuticals Does: Jazz Pharmaceuticals plc, incorporated in 2003, is a biopharmaceutical company.

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MACOM Technology Solutions

• The Trade: MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) 10% owner OCAMPO SUSAN sold a total of 45,090 shares at an average price of $69.06. The insider received around $3.11 million as a result of the transaction.
• What’s Happening: The company recently posted upbeat quarterly earnings.
• What MACOM Technology Solutions Does: MACOM Technology Solutions Holdings, Inc., headquartered in Lowell, Massachusetts, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

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Walmart

• The Trade: Walmart Inc. (NYSE:WMT) President and CEO Douglas McMillon sold a total of 9,708 shares at an average price of $152.12. The insider received around $1.48 million from selling those shares.
• What’s Happening: Walmart recently reported better-than-expected Q3 results and raised its outlook.
• What Walmart Does: Walmart, founded in 1945, engages in the operation of retail, wholesale, and other units worldwide.

Goldman Sachs Group

• The Trade: The Goldman Sachs Group, Inc. (NYSE:GS) President and COO John Waldron sold a total of 13,481 shares at an average price of $385.10. The insider received around $5.19 million from selling those shares.
• What’s Happening: Goldman Sachs Group’s asset-management arm agreed to pay $4 million to settle a regulatory investigation.
• What Goldman Sachs Group Does: Goldman Sachs Group, headquartered in New York, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide.