Squarepoint Ops LLC Sells 101,691 Shares of Ambarella, Inc. $AMBA

Key Points

• Squarepoint Ops LLC reduced its Ambarella position by 22.1%, selling 101,691 shares and retaining 358,889 shares worth approximately $30.8 million. Institutional investors collectively own 82.09% of the company.
• Ambarella insiders have also been selling shares, including the CEO and a vice president; insiders sold 58,519 shares worth about $4.6 million over the past 90 days.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $89.56 target price. The company recently beat quarterly earnings and revenue estimates, reporting $0.18 in EPS and $108.12 million in revenue.

Squarepoint Ops LLC trimmed its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 22.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,889 shares of the semiconductor company's stock after selling 101,691 shares during the quarter. Squarepoint Ops LLC owned approximately 0.82% of Ambarella worth $30,793,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMBA. Essential Partners LLC increased its holdings in Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 228 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Ambarella by 362.2% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 326 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Ambarella in the first quarter worth $30,000. Financial Management Professionals Inc. purchased a new stake in shares of Ambarella in the second quarter worth $32,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Ambarella in the third quarter worth $33,000. 82.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ambarella news, VP Yun-Lung Chen sold 5,958 shares of the firm's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $78.66, for a total value of $468,656.28. Following the sale, the vice president owned 60,557 shares of the company's stock, valued at $4,763,413.62. This trade represents a 8.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 16,250 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $90.08, for a total transaction of $1,463,800.00. Following the completion of the transaction, the chief executive officer owned 773,607 shares in the company, valued at $69,686,518.56. The trade was a 2.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 58,519 shares of company stock worth $4,595,475. 4.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMBA shares. Northland Securities set a $101.00 price objective on Ambarella in a research note on Wednesday, June 17th. Roth Capital decreased their target price on Ambarella from $90.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday. Craig Hallum cut Ambarella from a "buy" rating to a "hold" rating and set a $70.00 price target on the stock. in a report on Friday, September 4th. Weiss Ratings upgraded Ambarella from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 10th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $120.00 price objective on shares of Ambarella in a report on Monday, August 31st. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ambarella currently has a consensus rating of "Hold" and a consensus target price of $89.56.

Ambarella Price Performance

Shares of Ambarella stock opened at $63.48 on Wednesday. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69. The business's 50 day simple moving average is $73.81 and its two-hundred day simple moving average is $68.17. The stock has a market capitalization of $2.78 billion, a P/E ratio of -49.21 and a beta of 2.09.

Ambarella (NASDAQ:AMBA - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. Ambarella had a negative return on equity of 10.12% and a negative net margin of 13.48%.The firm had revenue of $108.12 million during the quarter, compared to analyst estimates of $107.76 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business's quarterly revenue was up 13.2% compared to the same quarter last year. Sell-side analysts expect that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella's platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella's product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.

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