The Nasdaq 100 closed higher by around 1% on Monday. 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.

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 $134.45. The insider received around $134,450 from selling those shares.
• What's Happening: On Feb. 28, Electronic Arts disclosed plans to lay off 5% of its workforce, approximately 670 employees, as part of a broader strategy to consolidate office space and halt development on certain video games.
• 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.

Have a look at our premarket coverage here

SkyWest

• The Trade: SkyWest, Inc. (NASDAQ:SKYW) Director James L Welch sold a total of 2,000 shares at an average price of $66.72. The insider received around $133,430 from selling those shares.
• What's Happening: On Feb. 1, SkyWest posted upbeat quarterly earnings.
• What SkyWest Does: SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean. Additionally, it leases aircraft to capable users to help generate revenue.

Macerich

• The Trade: The Macerich Company (NYSE:MAC) Director Hern Thomas E O sold a total of 7,964 shares at an average price of $16.39. The insider received around $130,530 from selling those shares.
• What's Happening: On Feb. 7, Macerich posted in-line quarterly earnings.
• What Macerich Does: The Macerich Company is an S&P 500 company that invests in premium mall assets.

Booz Allen Hamilton

• The Trade: Booz Allen Hamilton Holding Corporation (NYSE:BAH) EVP & Chief Financial Officer Matthew Calderone sold a total of 3,000 shares at an average price of $145.36. The insider received around $436,080 from selling those shares.
• What's Happening: On Jan. 26, Booz Allen Hamilton reported better-than-expected third-quarter financial results, increased its quarterly dividend and raised FY24 guidance.
• What Booz Allen Hamilton Does: Booz Allen Hamilton Holding Corp is a provider of management consulting services to the U.S. government. Other services offered include technology, such as cloud computing and cybersecurity consulting, and engineering consulting.