Christopher Day Sells 929 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 929 shares of Ambarella stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $75.40, for a total transaction of $70,046.60. Following the completion of the transaction, the vice president now owns 15,777 shares in the company, valued at $1,189,585.80. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 16th, Christopher Day sold 482 shares of Ambarella stock. The stock was sold at an average price of $75.41, for a total transaction of $36,347.62.
• On Monday, December 2nd, Christopher Day sold 1,278 shares of Ambarella stock. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58.
• On Thursday, October 3rd, Christopher Day sold 2,904 shares of Ambarella stock. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00.

Ambarella Stock Up 3.3 %

NASDAQ:AMBA traded up $2.29 on Friday, reaching $70.93. The stock had a trading volume of 1,368,934 shares, compared to its average volume of 609,897. The company has a market capitalization of $2.96 billion, a P/E 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 fifty day moving average price of $63.69 and a 200-day moving average price of $57.48.

Hedge Funds Weigh In On Ambarella

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after buying an additional 47,856 shares in the last quarter. Millennium Management LLC boosted its position in Ambarella by 7.0% in 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position in Ambarella by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after buying an additional 61,387 shares in the last quarter. Geode Capital Management LLC boosted its position in Ambarella by 1.6% in the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after buying an additional 14,568 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after buying an additional 355,078 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research report on Friday, December 6th. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. TD Cowen raised their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report 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 price target on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

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.