Point72 Asset Management L.P. Reduces Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Point72 Asset Management L.P. decreased its position in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 802,280 shares of the semiconductor company's stock after selling 59,804 shares during the period. Point72 Asset Management L.P. owned about 1.92% of Ambarella worth $58,358,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 184 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Ambarella in the 4th quarter worth $37,000. Sterling Capital Management LLC lifted its position in shares of Ambarella by 629.3% in the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 516 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Ambarella during the 4th quarter valued at about $53,000. Finally, R Squared Ltd purchased a new position in shares of Ambarella during the fourth quarter valued at about $68,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMBA has been the topic of several research reports. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Ambarella in a report on Thursday, February 27th. Susquehanna upped their price target on Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. StockNews.com upgraded Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Stifel Nicolaus dropped their target price on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC upped their target price on shares of Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Ambarella currently has an average rating of "Moderate Buy" and a consensus target price of $85.00.

Ambarella Stock Performance

Shares of NASDAQ:AMBA traded up $0.14 during trading on Wednesday, reaching $64.41. 426,494 shares of the stock traded hands, compared to its average volume of 692,085. The stock has a 50-day moving average of $50.30 and a two-hundred day moving average of $63.33. Ambarella, Inc. has a 52-week low of $38.86 and a 52-week high of $85.15. The stock has a market cap of $2.73 billion, a P/E ratio of -16.80 and a beta of 1.99.

Insider Buying and Selling at Ambarella

In other news, CFO John Alexander Young sold 2,103 shares of Ambarella stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $115,707.06. Following the completion of the sale, the chief financial officer now directly owns 113,886 shares in the company, valued at $6,266,007.72. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chan W. Lee sold 1,468 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 130,297 shares in the company, valued at $7,168,940.94. This represents a 1.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,328 shares of company stock worth $513,467. Insiders own 5.70% of the company's stock.

Ambarella 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.