Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) CEO Sells $323,961.36 in Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 4,296 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $323,961.36. Following the completion of the sale, the chief executive officer now owns 755,231 shares of the company’s stock, valued at approximately $56,951,969.71. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ambarella Stock Up 3.3 %

Shares of Ambarella stock opened at $70.93 on Friday. The business has a 50 day moving average of $63.91 and a 200 day moving average of $57.58. Ambarella, Inc. has a 52 week low of $39.69 and a 52 week high of $81.32. The company has a market cap of $2.96 billion, a PE ratio of -18.38 and a beta of 1.68.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMBA. Needham & Company LLC lifted their target price on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Northland Securities reiterated an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Monday, December 16th. Craig Hallum raised their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus boosted their price objective on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Ambarella currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd boosted its stake in shares of Ambarella by 592.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 22,144 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in Ambarella in the third quarter worth about $1,530,000. FMR LLC boosted its position in Ambarella by 185.4% during the 3rd quarter. FMR LLC now owns 17,102 shares of the semiconductor company’s stock valued at $965,000 after acquiring an additional 11,110 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Ambarella by 7.0% during the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after acquiring an additional 94,257 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 842 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

About Ambarella

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.