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

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

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AMBA shares. Stifel Nicolaus upped their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. TD Cowen lifted their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company decreased their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ambarella has an average rating of “Hold” and an average target price of $75.00.

Ambarella Stock Performance

The stock has a fifty day moving average price of $52.22 and a two-hundred day moving average price of $51.54. The firm has a market capitalization of $2.22 billion, a P/E ratio of -12.74 and a beta of 1.63.

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

Institutional Trading of Ambarella

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kodai Capital Management LP bought a new position in shares of Ambarella in the fourth quarter worth $65,543,000. Point72 Asset Management L.P. raised its holdings in Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after buying an additional 476,406 shares during the period. Norges Bank purchased a new stake in shares of Ambarella in the 4th quarter valued at approximately $23,495,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after acquiring an additional 250,778 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.