Insider Selling: Ambarella (NASDAQ:AMBA) CEO Sells 6,086 Shares of Stock

Key Points

• Ambarella CEO Feng-Ming Wang sold 6,086 shares at an average price of $64.83, generating approximately $394,555. He still directly owns 767,759 shares, with the sale reducing his position by 0.79%.
• AMBA shares traded at $66.15, down $0.76, with the stock below its 50-day moving average. Ambarella reported quarterly revenue growth of 13.2% and earnings of $0.18 per share, slightly ahead of analyst estimates, but remains unprofitable.
• Analyst sentiment is mixed, with five Buy, six Hold, and one Sell rating; the overall consensus is Hold, with a target price of $89.56. Institutional investors own approximately 82.09% of the company.

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) CEO Feng-Ming Wang sold 6,086 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $64.83, for a total value of $394,555.38. Following the completion of the transaction, the chief executive officer directly owned 767,759 shares of the company's stock, valued at approximately $49,773,815.97. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Feng-Ming Wang also recently made the following trade(s):

• On Wednesday, July 1st, Feng-Ming Wang sold 16,250 shares of Ambarella stock. The shares were sold at an average price of $90.08, for a total transaction of $1,463,800.00.

Ambarella Stock Performance

Shares of AMBA stock traded down $0.76 during trading hours on Friday, reaching $66.15. The company had a trading volume of 1,435,160 shares, compared to its average volume of 1,339,284. The business has a fifty day moving average price of $72.06 and a 200-day moving average price of $68.09. Ambarella, Inc. has a one year low of $48.30 and a one year high of $96.69. The firm has a market cap of $2.92 billion, a PE ratio of -51.28 and a beta of 2.09.

Ambarella (NASDAQ:AMBA - Get Free Report) last issued 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 net margin of 13.48% and a negative return on equity of 10.03%. The company had revenue of $108.12 million for the quarter, compared to the consensus estimate of $107.76 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts forecast that Ambarella, Inc. will post -1.11 EPS for the current year.

Institutional Trading of Ambarella

Several hedge funds have recently bought and sold shares of AMBA. Financial Management Professionals Inc. bought a new position in shares of Ambarella in the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ambarella during the 2nd quarter valued at approximately $34,000. Essential Partners LLC grew its stake in shares of Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 228 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Ambarella in the 1st quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Ambarella by 60.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 82.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMBA shares. Needham & Company LLC reaffirmed a "buy" rating on shares of Ambarella in a report on Friday, September 4th. Consumer Edge restated a "buy" rating on shares of Ambarella in a research note on Friday, May 22nd. Summit Insights lowered shares of Ambarella from a "buy" rating to a "hold" rating in a research report on Friday, May 29th. Craig Hallum lowered shares of Ambarella from a "buy" rating to a "hold" rating and set a $70.00 price target for the company. in a research report on Friday, September 4th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Ambarella in a research note on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $89.56.

About Ambarella

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company's product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.

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