Nvidia executives plan to reduce their holdings and cash out $180 million worth of stocks, the highest total in six years
lwj2651097
发表于 2023-12-5 13:00:32
1294
0
0
Although the market is still buying heavily, executives of AI (artificial intelligence) chip giant Nvidia have begun to reduce their holdings and cash out.
On December 4th local time, according to data provided by data provider The Washington Service, Nvidia executives and directors submitted documents in November indicating that they have sold or plan to sell a total of approximately 370000 shares, with a total value of approximately $180 million. If these stocks were all sold, it would be Nvidia's largest monthly sell-off in US dollars for at least six years.
After the news spread, Nvidia's stock price closed at $455.1 on the 4th, down 2.68%, with a total market value of $1.1 trillion, and its market value evaporated by $31 billion in one day.
Since the beginning of 2023, Nvidia's stock price has risen more than twice, but most of the increase was recorded in the first half of the year, and the stock price has also begun to show signs of weakness. On November 21st, Nvidia released its financial report for the third quarter of the 2024 fiscal year as of October 29th, achieving revenue of $18.12 billion, a year-on-year increase of 206%, far exceeding market expectations of $16.2 billion. However, Nvidia has also made it clear that its performance for the next quarter will be negatively affected by US chip export restrictions. Since then, Nvidia's stock price has fallen by over 6%.
According to foreign media analysis, it is normal for insiders to lock in profits after the company has shown excellent performance. However, Nvidia's selling behavior is unlikely to inspire market confidence in a future rebound. According to The Washington Service, since 2020, Nvidia insiders have hardly made any further stock purchases.
Among the four Nvidia insiders who disclosed their stock sales or potential sales in November, including Mark Stevens, a long-term board member of the company. Stevens has been a director of Nvidia since 2008 and former Managing Director of Sequoia Capital, a venture capital firm. He submitted a 144 form known as the "Notice of Proposed Sale of Securities" on November 24th this year, planning to sell 300000 shares. On November 24th and November 27th, he sold 10280 shares respectively, accounting for the largest portion of this internal sale.
According to data compiled by foreign media, Stevens has sold hundreds of thousands of shares in the past few years and still holds approximately $2 billion worth of Nvidia shares. Other insiders planning to sell stocks include Debora Shoquist, Executive Vice President of NVIDIA Operations, and Dawn Hudson, who joined NVIDIA's board of directors in July this year.
Shana Sissel, CEO of Banrion Capital Management, a capital management company that holds NVIDIA stocks, said, "There was a lot of selling but not buying, which is indeed quite interesting. Considering NVIDIA's stock price performance, it makes sense to take advantage of the opportunity to monetize a portion of the compensation."
A representative from Nvidia stated that the majority of stock price sales are based on the US Securities and Exchange Commission's 10b5-1 plan, which determines the price, quantity, and date of sales in advance.
On the other hand, according to The Washington Service, many insiders in the S&P 500 company increased their efforts to purchase their own company stocks in November, and the ratio of buyers to sellers is expected to reach its highest level in six months.
According to FactSet data, currently, 51 out of 54 analysts give Nvidia stocks a "buy" or "outperform" rating, while the remaining 3 give them a "hold" rating. The average target price given by analysts to Nvidia is $667.43.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- BeiGene executive Yin Min is under investigation after previously serving at AstraZeneca | News
- Nvidia is rumored to abandon old orders for AMD computers, which have been transferred to other suppliers
- NetEase refutes rumors: executive corruption case involving money laundering is untrue
- AstraZeneca CEO responds for the first time to Chinese executive detention: Wang Lei is discussing with lawyer
- Can AMD still catch up with Nvidia by laying off thousands of employees globally and scaring the market?
- Is Nvidia being abandoned after being heavily reduced in holdings? There is a significant divergence in the direction of the future market
- How important is Nvidia's Q3 financial report coming soon? Bank of America: It may determine the success or failure of the US stock market rebound!
- NVIDIA, big news!
- Whether the AI foam will burst depends on Nvidia's "report card"!
- before dawn! NVIDIA, Important Release!
-
知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
- caffycat
- 昨天 11:18
- 支持
- 反对
- 回复
- 收藏
-
每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
- star8699
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
- goodfriendboy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
- 3233340
- 昨天 17:06
- 支持
- 反对
- 回复
- 收藏