Insider Selling: Ambarella, Inc. (NASDAQ:AMBA) COO Sells 1,000 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) COO Chan W. Lee sold 1,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total value of $73,480.00. Following the completion of the transaction, the chief operating officer now owns 114,918 shares of the company’s stock, valued at approximately $8,444,174.64. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ambarella Stock Up 2.5 %

NASDAQ:AMBA traded up $1.88 during trading hours on Wednesday, hitting $76.20. 927,164 shares of the stock traded hands, compared to its average volume of 914,985. The stock has a 50 day moving average price of $67.75 and a 200 day moving average price of $59.09. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -19.74 and a beta of 1.66. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $81.32.

Hedge Funds Weigh In On Ambarella

A number of hedge funds have recently made changes to their positions in AMBA. Meeder Asset Management Inc. bought a new stake in shares of Ambarella during the second quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Ambarella by 389.6% during the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Ambarella in the third quarter worth about $69,000. Institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

AMBA has been the topic of a number of analyst reports. Craig Hallum boosted their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Monday, December 16th. Northland Securities restated an “outperform” rating and issued a $95.00 price objective (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Needham & Company LLC lifted their price objective on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus raised their price target on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

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.