Christopher Day Sells 482 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 482 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $36,347.62. Following the sale, the vice president now directly owns 16,706 shares in the company, valued at $1,259,799.46. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 2nd, Christopher Day sold 1,278 shares of Ambarella stock. The shares were sold at an average price of $71.61, for a total value of $91,517.58.
• On Thursday, October 3rd, Christopher Day sold 2,904 shares of Ambarella stock. The shares were sold at an average price of $58.00, for a total value of $168,432.00.

Ambarella Stock Down 5.5 %

Ambarella stock traded down $4.08 during mid-day trading on Wednesday, hitting $69.75. The company’s stock had a trading volume of 577,306 shares, compared to its average volume of 607,316. The stock has a market capitalization of $2.91 billion, a P/E ratio of -18.07 and a beta of 1.68. The stock’s fifty day moving average price is $63.28 and its two-hundred day moving average price is $57.31. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $81.32.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Craig Hallum boosted their price target on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Needham & Company LLC upped their price objective on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Ambarella in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Ambarella currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Institutional Investors Weigh In On Ambarella

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its stake in Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Ambarella by 13.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,619 shares of the semiconductor company’s stock worth $627,000 after buying an additional 1,347 shares during the period. Tributary Capital Management LLC increased its position in shares of Ambarella by 2.2% in the second quarter. Tributary Capital Management LLC now owns 285,667 shares of the semiconductor company’s stock worth $15,412,000 after acquiring an additional 6,020 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ambarella by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 205,233 shares of the semiconductor company’s stock valued at $11,072,000 after acquiring an additional 22,276 shares during the period. Finally, Legato Capital Management LLC acquired a new position in shares of Ambarella in the 2nd quarter valued at about $790,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

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.