Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) CEO Sells 3,194 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 3,194 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $175,733.88. Following the completion of the sale, the chief executive officer now directly owns 798,311 shares of the company’s stock, valued at approximately $43,923,071.22. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ambarella Trading Down 0.7 %

Shares of AMBA stock opened at $54.26 on Friday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -14.06 and a beta of 1.78. The stock has a 50 day simple moving average of $69.81 and a 200-day simple moving average of $65.29. Ambarella, Inc. has a 12-month low of $39.69 and a 12-month high of $85.15.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ambarella during the 4th quarter worth approximately $278,000. Centaurus Financial Inc. purchased a new position in Ambarella in the 4th quarter valued at approximately $325,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ambarella in the 4th quarter valued at approximately $452,000. Mackenzie Financial Corp increased its stake in Ambarella by 3.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock valued at $466,000 after purchasing an additional 201 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Ambarella in the 4th quarter valued at approximately $2,325,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on AMBA shares. Morgan Stanley upped their target price on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Northland Securities reissued an “outperform” rating and issued a $95.00 target price (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Needham & Company LLC increased their price objective on Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Craig Hallum increased their price objective on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.