Ambarella, Inc. (NASDAQ:AMBA) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in shares of Ambarella, Inc. (NASDAQ:AMBA) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,961 shares of the semiconductor company’s stock after selling 85,192 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ambarella were worth $20,655,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Heritage Family Offices LLP purchased a new position in Ambarella during the fourth quarter worth approximately $213,000. FNY Investment Advisers LLC boosted its holdings in Ambarella by 52.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,248 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 770 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Ambarella during the third quarter valued at about $3,905,000. Geode Capital Management LLC raised its holdings in shares of Ambarella by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after purchasing an additional 14,568 shares during the period. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Ambarella during the 3rd quarter worth about $481,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ambarella

In related news, COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $75.90, for a total transaction of $75,900.00. Following the sale, the chief operating officer now owns 110,918 shares of the company’s stock, valued at $8,418,676.20. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Day sold 1,278 shares of Ambarella stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the transaction, the vice president now owns 17,188 shares in the company, valued at approximately $1,230,832.68. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,861 shares of company stock worth $1,945,436 in the last three months. 5.70% of the stock is owned by company insiders.

Ambarella Stock Performance

Shares of AMBA opened at $80.32 on Friday. Ambarella, Inc. has a 1 year low of $39.69 and a 1 year high of $85.15. The firm has a fifty day moving average of $71.88 and a 200-day moving average of $60.83. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -20.82 and a beta of 1.66.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Northland Securities reissued an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. 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. Needham & Company LLC lifted their price objective on shares of Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, December 16th. Finally, Stifel Nicolaus upped their price objective on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.42.

Ambarella 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.