Numerai GP LLC Decreases Stake in Ambarella, Inc. (NASDAQ:AMBA)

Numerai GP LLC reduced its position in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 61.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,260 shares of the semiconductor company's stock after selling 26,466 shares during the period. Numerai GP LLC's holdings in Ambarella were worth $1,183,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Occudo Quantitative Strategies LP bought a new stake in shares of Ambarella during the fourth quarter worth $346,000. Millennium Management LLC grew its stake in shares of Ambarella by 11.5% during the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company's stock worth $101,414,000 after buying an additional 144,268 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Ambarella during the fourth quarter worth $218,000. Gotham Asset Management LLC bought a new stake in shares of Ambarella during the fourth quarter worth $1,056,000. Finally, Graham Capital Management L.P. grew its stake in shares of Ambarella by 40.1% during the fourth quarter. Graham Capital Management L.P. now owns 30,833 shares of the semiconductor company's stock worth $2,243,000 after buying an additional 8,820 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Stock Performance

Shares of NASDAQ AMBA traded up $0.89 during trading on Friday, hitting $63.51. 653,307 shares of the company traded hands, compared to its average volume of 694,035. The business's fifty day moving average is $49.83 and its 200 day moving average is $63.21. Ambarella, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $85.15. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -16.45 and a beta of 1.99.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMBA. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price objective on shares of Ambarella in a research note on Thursday, February 27th. Susquehanna boosted their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. Stifel Nicolaus reduced their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. StockNews.com raised shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Needham & Company LLC boosted their price objective on shares of Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Insider Activity

In related news, VP Christopher Day sold 479 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $26,354.58. Following the sale, the vice president now owns 15,441 shares in the company, valued at $849,563.82. This represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Feng-Ming Wang sold 3,194 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $175,733.88. Following the completion of the sale, the chief executive officer now owns 798,311 shares in the company, valued at $43,923,071.22. This represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,328 shares of company stock worth $513,467. Company insiders own 5.30% of the company's stock.

Ambarella Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.