Ambarella (NASDAQ:AMBA) Trading Down 2.7% Following Insider Selling

Ambarella, Inc. (NASDAQ:AMBA)’s stock price was down 2.7% during trading on Friday after an insider sold shares in the company. The company traded as low as $54.09 and last traded at $54.26. Approximately 129,973 shares were traded during trading, a decline of 79% from the average daily volume of 619,652 shares. The stock had previously closed at $55.77.

Specifically, CEO Feng-Ming Wang sold 4,301 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $230,275.54. Following the transaction, the chief executive officer now owns 799,527 shares in the company, valued at approximately $42,806,675.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Leslie Kohn sold 1,608 shares of Ambarella stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $86,092.32. Following the sale, the chief technology officer now owns 961,433 shares of the company’s stock, valued at $51,475,122.82. The disclosure for this sale can be found here. In related news, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $79,774.60. Following the transaction, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research note on Friday, August 23rd. Finally, Craig Hallum increased their price objective on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.00.

Ambarella Stock Performance

The company has a 50 day moving average of $52.07 and a two-hundred day moving average of $51.52. The stock has a market cap of $2.23 billion, a PE ratio of -12.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. As a group, equities research analysts anticipate that Ambarella, Inc. will post -2.99 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMBA. Charles Schwab Investment Management Inc. raised its holdings in shares of Ambarella by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 299,062 shares of the semiconductor company’s stock valued at $18,330,000 after acquiring an additional 4,593 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ambarella by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after purchasing an additional 29,379 shares during the last quarter. Norges Bank purchased a new position in Ambarella in the 4th quarter valued at $23,495,000. Trexquant Investment LP acquired a new stake in Ambarella during the 4th quarter worth $3,176,000. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of Ambarella by 1,181.7% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 10,920 shares of the semiconductor company’s stock worth $669,000 after buying an additional 10,068 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

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.