Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) VP Sells 2,904 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares of the company’s stock, valued at $1,071,028. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Christopher Day also recently made the following trade(s):

• On Tuesday, September 17th, Christopher Day sold 483 shares of Ambarella stock. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82.
• On Monday, July 8th, Christopher Day sold 1,408 shares of Ambarella stock. The shares were sold at an average price of $61.66, for a total value of $86,817.28.

Ambarella Stock Performance

NASDAQ:AMBA traded down $0.97 on Friday, hitting $56.20. The stock had a trading volume of 411,547 shares, compared to its average volume of 612,434. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $65.88. The firm’s fifty day simple moving average is $51.53 and its two-hundred day simple moving average is $51.59. The stock has a market cap of $2.30 billion, a P/E ratio of -13.19 and a beta of 1.62.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. Ambarella’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted ($0.76) earnings per share. Equities research analysts predict that Ambarella, Inc. will post -3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMBA. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Stifel Nicolaus raised their price objective on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. TD Cowen lifted their target price on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Morgan Stanley lifted their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.00.

Institutional Trading of Ambarella

Several hedge funds have recently made changes to their positions in the company. SWS Partners lifted its stake in shares of Ambarella by 25.3% during the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after buying an additional 16,049 shares in the last quarter. Millennium Management LLC increased its position in shares of Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares during the period. Sei Investments Co. bought a new stake in shares of Ambarella during the first quarter valued at about $571,000. Headlands Technologies LLC purchased a new stake in shares of Ambarella in the first quarter worth about $567,000. Finally, Duality Advisers LP boosted its position in shares of Ambarella by 67.9% in the first quarter. Duality Advisers LP now owns 34,292 shares of the semiconductor company’s stock valued at $1,741,000 after acquiring an additional 13,866 shares during the period. 82.09% of the stock is currently owned by 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.