The Nasdaq 100 closed higher by over 1.5% on Thursday. 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.

Air Lease

• The Trade: Air Lease Corporation (NYSE:AL) EVP Alex A Khatibi sold a total of 11,198 shares at an average price of $43.11. The insider received around $482,740 from selling those shares.
• What's Happening: On Feb. 27, Air Lease secured a long-term deal with Thai Airways for three Boeing 787-9s.
• What Air Lease Does: Air Lease Corp is an aircraft leasing company based in the United States.

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Murphy Oil

• The Trade: Murphy Oil Corporation (NYSE:MUR) Vice President John B Gardner sold a total of 40,000 shares at an average price of $40.82. The insider received around 1.63 million from selling those shares.
• What's Happening: On Feb. 7, Murphy Oil appointed Eric M. Hambly to the role of President and COO.
• What Murphy Oil Does: Murphy Oil is an oil and gas exploration and production company, with both onshore and offshore operations and properties. It operates in two geographic reportable segments the United States and Canada.

Robinhood Markets

• 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 $15.90. The insider received around $198,795 from selling those shares.
• What's Happening: On Feb. 13, Robinhood reported better-than-expected fourth-quarter financial results.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

Cisco Systems

• The Trade: Cisco Systems, Inc. (NASDAQ:CSCO) EVP and Chief Legal Officer Deborah L Stahlkopf sold a total of 9,100 shares at an average price of $48.86. The insider received around $444,636 from selling those shares.
• What's Happening: BBVA and Cisco have deepened their strategic alliance to accelerate digital transformation and foster innovation.
• What Cisco Does: Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world.