Ambarella, Inc. (NASDAQ:AMBA) CTO Leslie Kohn Sells 1,757 Shares

Ambarella, Inc. (NASDAQ:AMBA) CTO Leslie Kohn sold 1,757 shares of the company’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 value of $132,495.37. Following the transaction, the chief technology officer now owns 959,676 shares of the company’s stock, valued at approximately $72,369,167.16. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ambarella Trading Up 3.3 %

Shares of AMBA opened at $70.93 on Friday. The stock has a market cap of $2.96 billion, a PE ratio of -18.38 and a beta of 1.68. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The stock has a 50 day simple moving average of $63.91 and a 200-day simple moving average of $57.58.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Craig Hallum upped their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley upped 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. TD Cowen lifted their target price on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Northland Securities reaffirmed an “outperform” rating and issued a $95.00 price target (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ambarella has an average rating of “Moderate Buy” and an average target price of $84.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in Ambarella by 2.6% during the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after buying an additional 47,856 shares during the last quarter. Millennium Management LLC grew its position in 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 last quarter. The Manufacturers Life Insurance Company increased its holdings in Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after purchasing an additional 14,568 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Ambarella by 70.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after purchasing an additional 355,078 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.