The Nasdaq 100 closed higher by over 200 points on Friday. 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.

Dollar General

• The Trade: Dollar General Corporation (NYSE:DG) EVP & Chief Information Ofc Carman R Wenkoff sold a total of 5,909 shares at an average price of $162.23. The insider received around $958,616 from selling those shares.
• What's Happening: On April 2, Evercore ISI Group analyst Michael Montani maintained Dollar Gen with an In-Line and lowered the price target from $162 to $160.
• What Dollar General Does: With over 20,000 locations, Dollar General's banner is nearly ubiquitous across the rural United States. Dollar General serves as a convenient shopping destination for fill-in store trips, with its value proposition most relevant to consumers in small communities with a dearth of shopping options.

Have a look at our premarket coverage here

Broadcom

• The Trade: Broadcom Inc. (NASDAQ:AVGO) Chief Legal & Corp Affairs Ofc Mark David Brazeal sold a total of 2,500 shares at an average price of $1,367.52. The insider received around $3.42 million from selling those shares.
• What's Happening: On March 21, TD Cowen upgraded the stock from Market Perform to Outperform and raised its price target from $1,400 to $1,500.
• What Broadcom Does: Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue.

Analog Devices

• The Trade: Analog Devices, Inc. (NASDAQ:ADI) EVP, Global Operations Vivek Jain sold a total of 3,479 shares at an average price of $197.56. The insider received around $687,317 from selling those shares.
• What's Happening: On March 11, Cantor Fitzgerald analyst C J Muse reiterated Analog Devices with a Neutral and maintained a $205 price target.
• What Analog Devices Does: Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa.

Synopsys

• The Trade: Synopsys, Inc. (NASDAQ:SNPS) GC & Corporate Secretary John F Runkel Jr sold a total of 5,319 shares at an average price of $579.37. The insider received around $3.08 million from selling those shares.
• What's Happening: On April 4, Piper Sandler analyst Clarke Jeffries initiated coverage on Synopsys with an Overweight rating and announced a price target of $665.
• What Synopsys Does: Synopsys is a provider of electronic design automation software, intellectual property, and software integrity products.