Wave goodbye to these 4 high-flying stocks

Investors should start shedding some rallying stocks as U.S. markets linger near highs, CNBC's "Fast Money" traders said.

U.S. stocks were mixed on Thursday, but the Dow closed at a record on Wednesday and the Nasdaq is threatening to break 5,000 for the first time in 15 years. The performance has created some profit-taking opportunities, traders said.

Target got a boost by reporting stronger-than-expected quarterly sales Wednesday, said trader Tim Seymour. The stock closed around $77 per share on Thursday, which marks a wise jumping-off point, he said.

"I don't need to own it anymore," Seymour said.

Shoppers at a Target store in Mount Kisco, New York.
Scott Mlyn | CNBC
Shoppers at a Target store in Mount Kisco, New York.

Another rallying name, Amazon, will "stall" soon, said trader Guy Adami. Amazon has surged nearly 25 percent this year, bringing it to about $384 per share.

Adami believes the stock will flatline at around $400 per share, where investors should "take profits."

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Tesla Motors has struggled to inspire investor confidence, said trader Steve Grasso. Tesla stock closed nearly nearly 2 percent higher around $207 per share on Thursday, a level that he said isn't appealing.

"I think the competition is extreme for them. It's lost its mojo. I would stay out of the name," Grasso said.

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Another technology name, Texas Instruments, is currently expensive relative to other names in its sector, trader Brian Kelly said. The semiconductor maker has "huge negative exposure" to a stronger dollar, he said.

It closed Thursday just below $60 per share.

"You want to start taking some profits here," Kelly said.

Disclosures:

Tim Seymour

Tim Seymour is long AAPL, T, BAC, C, KO, DIS, F, GE, GM, GOOGL, INTC, JCP and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK and SBUX.

Steve Grasso

Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR and YHOO. His kids are long EFA, EFG, EWJ, IJR and SPY. His firm and some of its partners are long AER, AMD, AMZN, CUBA, FCX, FNMA, HSPO, IBM, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OXY, RIG, SALT, STAG, TAXI, TITXF, TSE, USO, VALE and ZNGA.

Brian Kelly

Brian Kelly is long BTC=, U.S. dollar, GLD, CTRL calls, HYG puts, BBRY, BBRY call spreads and TLT. He is short EWA, EWG, EWQ, EWZ, EWW, JJC, Australian dollar, British pound, Canadian dollar, euro, yen and yuan. Today he shorted euro and JJC.

Guy Adami

Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.