Christopher B. Paisley Sells 1,500 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher B. Paisley sold 1,500 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $73.80, for a total transaction of $110,700.00. Following the transaction, the director now directly owns 40,781 shares in the company, valued at approximately $3,009,637.80. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ambarella Stock Performance

Shares of AMBA stock opened at $73.51 on Friday. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $81.32. The company has a 50-day simple moving average of $65.49 and a two-hundred day simple moving average of $58.17. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -19.04 and a beta of 1.68.

Institutional Trading of Ambarella

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its position in Ambarella by 1,556.9% in the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after buying an additional 343,385 shares during the period. Barclays PLC increased its holdings in Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after buying an additional 286,296 shares during the last quarter. Marshall Wace LLP raised its position in Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after acquiring an additional 250,778 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Ambarella by 230.1% in the second quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock valued at $9,299,000 after acquiring an additional 120,204 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMBA. Needham & Company LLC boosted their target price on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Susquehanna upped their target price on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Wednesday, November 27th. Craig Hallum lifted their price target on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Stifel Nicolaus raised their price objective on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, 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 report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average 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.