Point72 Asset Management L.P. Sells 59,804 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Point72 Asset Management L.P. trimmed its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 802,280 shares of the semiconductor company's stock after selling 59,804 shares during the period. Point72 Asset Management L.P. owned approximately 1.92% of Ambarella worth $58,358,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMBA. Arizona State Retirement System grew its stake in shares of Ambarella by 1.4% during the 4th quarter. Arizona State Retirement System now owns 11,368 shares of the semiconductor company's stock worth $827,000 after acquiring an additional 156 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Ambarella by 4.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,964 shares of the semiconductor company's stock worth $288,000 after buying an additional 161 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Ambarella by 68.7% in the 4th 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 in the last quarter. Pacer Advisors Inc. increased its position in shares of Ambarella by 24.2% in the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company's stock valued at $70,000 after acquiring an additional 188 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Ambarella by 21.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,175 shares of the semiconductor company's stock worth $85,000 after acquiring an additional 210 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Insider Activity at Ambarella

In related news, COO Chan W. Lee sold 1,468 shares of the business's stock in a transaction on 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 in the company, valued at approximately $7,168,940.94. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Day sold 479 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the transaction, the vice president now directly owns 15,441 shares of the company's stock, valued at approximately $849,563.82. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,328 shares of company stock worth $513,467. Insiders own 5.30% of the company's stock.

Ambarella Trading Up 2.3%

Shares of AMBA opened at $62.62 on Friday. The stock has a 50 day moving average of $49.55 and a 200 day moving average of $63.19. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -16.22 and a beta of 1.99. Ambarella, Inc. has a 12 month low of $38.86 and a 12 month high of $85.15.

Analysts Set New Price Targets

AMBA has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Stifel Nicolaus dropped their price objective on 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 upgraded Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Susquehanna increased their price target on Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC raised their price target on Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.

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