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Chan W. Lee Sells 1,488 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella logo with Computer and Technology background

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) COO Chan W. Lee sold 1,488 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $112,210.08. Following the transaction, the chief operating officer now directly owns 119,918 shares of the company's stock, valued at approximately $9,043,016.38. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ambarella Stock Performance

Shares of NASDAQ:AMBA traded down $4.08 during midday trading on Wednesday, reaching $69.75. 577,306 shares of the company's stock traded hands, compared to its average volume of 607,316. Ambarella, Inc. has a one year low of $39.69 and a one year high of $81.32. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -18.07 and a beta of 1.68. The stock has a 50 day moving average of $63.28 and a 200 day moving average of $57.31.

Wall Street Analyst Weigh In

A number of research firms have commented on AMBA. TD Cowen upped their price target on Ambarella from $65.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Westpark Capital restated a "buy" rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Northland Securities reissued an "outperform" rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Susquehanna lifted their target price on shares of Ambarella from $70.00 to $85.00 and gave the company a "positive" rating in a research note on Wednesday, November 27th. Finally, Roth Mkm reissued a "neutral" rating and issued a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.17.

Get Our Latest Research Report on AMBA

Institutional Trading of Ambarella

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in Ambarella in the second quarter worth approximately $26,000. Blue Trust Inc. increased its stake in shares of 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. CWM LLC increased its stake in shares of 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. Signaturefd LLC raised its holdings in Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 526 shares during the period. Finally, Larson Financial Group LLC grew its holdings in 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 during the period. Hedge funds and other institutional investors own 82.09% of the company's stock.

About Ambarella

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Ambarella (NASDAQ:AMBA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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