Canada Pension Plan Investment Board Lowers Stake in Ambarella, Inc. (NASDAQ:AMBA)

Canada Pension Plan Investment Board lowered its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 36.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,676 shares of the semiconductor company's stock after selling 25,624 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Ambarella worth $3,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 184 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ambarella in the fourth quarter valued at $37,000. Sterling Capital Management LLC raised its stake in shares of Ambarella by 629.3% in the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 516 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Ambarella in the fourth quarter valued at $53,000. Finally, R Squared Ltd purchased a new stake in shares of Ambarella in the fourth quarter valued at approximately $68,000. Institutional investors own 82.09% of the company's stock.

Ambarella Stock Performance

Shares of NASDAQ AMBA traded down $0.28 during mid-day trading on Monday, hitting $47.29. The stock had a trading volume of 353,259 shares, compared to its average volume of 694,670. The company has a 50 day moving average of $52.32 and a two-hundred day moving average of $63.68. Ambarella, Inc. has a twelve month low of $38.86 and a twelve month high of $85.15. The firm has a market cap of $2.01 billion, a PE ratio of -12.25 and a beta of 1.86.

Insider Activity at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,468 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $80,769.36. Following the sale, the chief operating officer now directly owns 130,297 shares of the company's stock, valued at approximately $7,168,940.94. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 500 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the sale, the director now directly owns 40,281 shares in the company, valued at approximately $2,235,595.50. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,328 shares of company stock valued at $513,467 in the last ninety days. Company insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus lowered their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Susquehanna upped their target price on Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a report on Wednesday, January 22nd. Rosenblatt Securities restated a "buy" rating and set a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Needham & Company LLC upped their target price on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Ambarella Company 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.