The Nasdaq 100 closed slightly higher 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.

Enphase Energy

• The Trade: Enphase Energy, Inc. (NASDAQ:ENPH) EVP & Chief Commercial Officer David A Ranhoff sold a total of 5,000 shares at an average price of $116.29. The insider received around $581,474 from selling those shares.
• What’s Happening: Enphase Energy is expected to host a conference call and webcast on Tuesday, April 23, 2024.
• What Enphase Energy Does: Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform.

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Wayfair

• The Trade: Wayfair Inc. (NYSE:W) Chief Commercial Officer) Jon Blotner sold a total of 4,144 shares at an average price of $60.52. The insider received around $250,795 from selling those shares.
• What’s Happening: Wayfair is expected to release financial results for its first quarter ending March 31, 2024 before the opening of the market on May 2, 2024.
• What Wayfair Does: Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland.

CrowdStrike Holdings

• The Trade: CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Shawn Henry sold a total of 4,000 shares at an average price of $308.79. The insider received around $1.24 million from selling those shares.
• What’s Happening: On April 9, CrowdStrike announced an expanded partnership with Google Cloud to stop breaches across multi-cloud and multi-vendor environments..
• What CrowdStrike Holdings Does: CrowdStrike is a cloud-based cybersecurity company specializing in next-generation security verticals such as endpoint, cloud workload, identity, and security operations.

Electronic Arts

• The Trade: Electronic Arts Inc. (NASDAQ:EA) Chief Legal Officer Jacob J. Schatz sold a total of 1,000 shares at an average price of $128.21. The insider received around $128,210 from selling those shares.
• What’s Happening: Electronic Arts is expected to release its financial results for the fiscal quarter and year ended March 31, 2024 after the close of market on May 7, 2024.
• What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

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