Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day Sells 1,247 Shares

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 1,247 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $78.10, for a total value of $97,390.70. Following the completion of the sale, the vice president now directly owns 14,530 shares in the company, valued at approximately $1,134,793. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, December 18th, Christopher Day sold 929 shares of Ambarella stock. The stock was sold at an average price of $75.40, for a total transaction of $70,046.60.
• On Monday, December 16th, Christopher Day sold 482 shares of Ambarella stock. The shares were 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 shares were sold at an average price of $71.61, for a total transaction of $91,517.58.

Ambarella Trading Down 4.9 %

AMBA stock traded down $3.86 during trading on Tuesday, reaching $74.32. The stock had a trading volume of 1,209,319 shares, compared to its average volume of 911,878. The firm has a fifty day moving average price of $67.50 and a 200 day moving average price of $58.96. The company has a market capitalization of $3.10 billion, a P/E ratio of -19.25 and a beta of 1.66. Ambarella, Inc. has a 1-year low of $39.69 and a 1-year high of $81.32.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research report on Friday, December 6th. Susquehanna raised their price objective on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. Northland Securities reiterated an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. 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 report on Monday, December 16th. Finally, Morgan Stanley increased their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMBA. State Street Corp raised its stake in Ambarella by 2.6% during 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 raised its position in shares of Ambarella by 7.0% during the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ambarella by 1.6% in the third 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, Point72 Asset Management L.P. increased its stake in Ambarella by 70.0% during 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 purchasing an additional 355,078 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.