Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) CTO Sells 1,584 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) CTO Leslie Kohn sold 1,584 shares of the business’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 $87,151.68. Following the transaction, the chief technology officer now owns 981,392 shares in the company, valued at $53,996,187.84. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ambarella Stock Down 0.9 %

NASDAQ:AMBA traded down $0.51 during mid-day trading on Thursday, reaching $54.64. The company’s stock had a trading volume of 475,471 shares, compared to its average volume of 654,069. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $85.15. The stock has a fifty day moving average of $70.67 and a 200-day moving average of $65.40. The firm has a market capitalization of $2.28 billion, a PE ratio of -14.16 and a beta of 1.78.

Institutional Trading of Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. Oppenheimer & Co. Inc. purchased a new stake in Ambarella in the third quarter worth about $663,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Ambarella by 18.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after acquiring an additional 35,977 shares during the period. Intech Investment Management LLC purchased a new stake in Ambarella in the third quarter worth about $722,000. Charles Schwab Investment Management Inc. lifted its stake in Ambarella by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 320,319 shares of the semiconductor company’s stock worth $18,068,000 after acquiring an additional 3,700 shares during the period. Finally, Algert Global LLC lifted its stake in Ambarella by 76.2% in the third quarter. Algert Global LLC now owns 94,999 shares of the semiconductor company’s stock worth $5,358,000 after acquiring an additional 41,094 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMBA shares. Craig Hallum boosted their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Stifel Nicolaus boosted their price objective on shares of Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC boosted their price objective on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.67.

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.