Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) Director Sells 253 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Elizabeth M. Schwarting sold 253 shares of Ambarella stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $71.55, for a total value of $18,102.15. Following the completion of the transaction, the director now owns 7,902 shares of the company’s stock, valued at approximately $565,388.10. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ambarella Price Performance

Shares of AMBA stock traded up $2.29 during trading hours on Friday, reaching $70.93. 1,368,934 shares of the company’s stock were exchanged, compared to its average volume of 609,897. The company’s 50 day moving average is $63.69 and its two-hundred day moving average is $57.48. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32. The company has a market cap of $2.96 billion, a P/E ratio of -18.38 and a beta of 1.68.

Wall Street Analysts Forecast Growth

AMBA has been the topic of several analyst reports. TD Cowen raised their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC upped their target price on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Ambarella in a research report on Friday, December 6th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Investors Weigh In On Ambarella

Several institutional investors have recently made changes to their positions in the stock. Azzad Asset Management Inc. ADV lifted its stake in shares of Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after purchasing an additional 231 shares during the period. Versor Investments LP lifted its position in shares of Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock valued at $261,000 after acquiring an additional 256 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 285 shares in the last quarter. CWM LLC grew its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares during the period. Finally, Blue Trust Inc. increased its stake in Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 321 shares in the last quarter. 82.09% of the stock is currently 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.