Gold futures traded lower this morning on Thursday. 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.

AutoNation

• The Trade: AutoNation, Inc. (NYSE:AN) 10% owner Edward S. Lampert sold a total of 290,735 shares at an average price of $108.39. The insider received around $31.51 million from selling those shares.
• What's Happening: B of A Securities, earlier during the month, maintained AutoNation with a Buy and lowered the price target from $250 to $238.
• What AutoNation Does: AutoNation is the largest automotive dealer in the United States, with 2021 revenue of $25.8 billion and about 250 dealerships at nearly 350 locations, plus 57 collision centers.

Also check this: Why Fear Level Among US Investors Is Increasing

Hershey Company

• The Trade: The Hershey Company (NYSE:HSY) President, US Charles R Raup sold a total of 1,512 shares at an average price of $224.82. The insider received around $339.93 thousand as a result of the transaction.
• What's Happening: RBC Capital recently initiated coverage on Hershey with an Outperform rating and announced a price target of $33.
• What Hershey Does: Hershey is a leading confectionery manufacturer in the U.S. (around a $25 billion market), controlling around 46% of the domestic chocolate space (per IRI). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers.

Have a look at our premarket coverage here .

Laboratory Corporation of America

• The Trade: Laboratory Corporation of America Holdings (NYSE:LH) CFO, EVP Glenn A Eisenberg sold a total of 25,000 shares at an average price of $210.62. The insider received around $5.27 million from selling those shares.
• What's Happening: Labcorp, last month, acquired Clinical Outreach Laboratory Services from RWJBarnabas Health.
• What Laboratory Corporation of America Does: Laboratory Corp. of America is one of the nation's two largest independent clinical laboratories, with roughly 20% of the independent lab market.