Insider Selling: Ambarella (NASDAQ:AMBA) CFO Sells $127,562.88 in Stock

Key Points

• Ambarella CFO John Young sold 1,896 shares for $127,562.88 at an average price of $67.28 under a pre-arranged Rule 10b5-1 plan. He retains 107,806 shares after the transaction; he also sold 3,126 shares the previous day.
• Ambarella shares rose 4.1% to $68.85, while the company’s latest quarterly results slightly exceeded expectations, with earnings of $0.18 per share and revenue of $108.12 million, up 13.2% year over year.
• Analysts maintain a consensus “Hold” rating with an $89.56 price target, and institutional investors own 82.09% of the company’s shares.

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) CFO John Young sold 1,896 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $67.28, for a total value of $127,562.88. Following the completion of the transaction, the chief financial officer directly owned 107,806 shares of the company's stock, valued at $7,253,187.68. This represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Alexander Young also recently made the following trade(s):

• On Thursday, September 17th, John Young sold 3,126 shares of Ambarella stock. The stock was sold at an average price of $64.83, for a total value of $202,658.58.

Ambarella Stock Up 4.1%

Shares of AMBA traded up $2.70 during trading on Monday, reaching $68.85. The company's stock had a trading volume of 1,208,965 shares, compared to its average volume of 1,338,572. The company has a fifty day moving average of $71.84 and a two-hundred day moving average of $68.13. Ambarella, Inc. has a twelve month low of $48.30 and a twelve month high of $96.69. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -53.37 and a beta of 2.09.

Ambarella (NASDAQ:AMBA - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. The business had revenue of $108.12 million during the quarter, compared to the consensus estimate of $107.76 million. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. As a group, equities analysts forecast that Ambarella, Inc. will post -1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Essential Partners LLC lifted its holdings in Ambarella by 90.1% in 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 last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Ambarella during the first quarter valued at approximately $30,000. Financial Management Professionals Inc. bought a new position in shares of Ambarella in the second quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ambarella in the 2nd quarter worth $34,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Ambarella by 60.6% during the first quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 252 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Rosenblatt Securities restated a "buy" rating and set a $120.00 price objective on shares of Ambarella in a research note on Wednesday, September 16th. Summit Insights lowered shares of Ambarella from a "buy" rating to a "hold" rating in a research note on Friday, May 29th. Northland Securities set a $101.00 price target on Ambarella in a research report on Wednesday, June 17th. Craig Hallum downgraded shares of Ambarella from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a report on Friday, September 4th. Finally, Oppenheimer reissued 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. Based on data from MarketBeat.com, Ambarella currently has an average rating of "Hold" and a consensus price target 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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