George Laplante Sells 10,000 Shares of Ambarella Inc. (AMBA) Stock
Ambarella Inc. (NASDAQ:AMBA) CFO George Laplante sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the sale, the chief financial officer now directly owns 100,040 shares of the company’s stock, valued at approximately $7,002,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
George Laplante also recently made the following trade(s):
- On Friday, September 16th, George Laplante sold 4,844 shares of Ambarella stock. The shares were sold at an average price of $67.98, for a total transaction of $329,295.12.
- On Wednesday, September 7th, George Laplante sold 30,000 shares of Ambarella stock. The shares were sold at an average price of $67.08, for a total transaction of $2,012,400.00.
Ambarella Inc. (NASDAQ:AMBA) opened at 72.54 on Thursday. Ambarella Inc. has a 52 week low of $33.39 and a 52 week high of $74.95. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 54.62 and a beta of 1.50. The firm has a 50-day moving average of $68.47 and a 200 day moving average of $53.17.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.38 by $0.16. The company earned $65.10 million during the quarter, compared to analysts’ expectations of $64.02 million. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The firm’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, analysts anticipate that Ambarella Inc. will post $2.64 EPS for the current year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Ambarella from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Vetr cut shares of Ambarella from a “buy” rating to a “hold” rating and set a $68.62 target price on the stock. in a research report on Thursday, August 18th. Pacific Crest reaffirmed a “buy” rating on shares of Ambarella in a research report on Friday, September 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research report on Friday, September 2nd. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Ambarella in a research report on Monday, September 5th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Ambarella currently has a consensus rating of “Buy” and an average target price of $69.31.
A number of hedge funds have recently bought and sold shares of AMBA. Macquarie Group Ltd. boosted its stake in Ambarella by 18.5% in the second quarter. Macquarie Group Ltd. now owns 87,390 shares of the company’s stock valued at $4,440,000 after buying an additional 13,641 shares during the period. Royal Bank of Canada boosted its stake in Ambarella by 93.8% in the second quarter. Royal Bank of Canada now owns 14,198 shares of the company’s stock valued at $720,000 after buying an additional 6,872 shares during the period. Amalgamated Bank acquired a new stake in Ambarella during the second quarter valued at approximately $213,000. Elk Creek Partners LLC boosted its stake in Ambarella by 30.0% in the second quarter. Elk Creek Partners LLC now owns 213,600 shares of the company’s stock valued at $10,853,000 after buying an additional 49,275 shares during the period. Finally, First Foundation Advisors acquired a new stake in Ambarella during the second quarter valued at approximately $203,000. Institutional investors own 51.33% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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