Point72 Asset Management L.P. Decreases Stock Holdings in Ambarella, Inc. (NASDAQ:AMBA)

Point72 Asset Management L.P. trimmed its position in shares of Ambarella, Inc. (NASDAQ:AMBA) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 802,280 shares of the semiconductor company’s stock after selling 59,804 shares during the period. Point72 Asset Management L.P.’s holdings in Ambarella were worth $58,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Ambarella by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock valued at $341,596,000 after buying an additional 81,557 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Ambarella by 7.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock valued at $105,628,000 after purchasing an additional 98,841 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Ambarella by 11.5% in the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after purchasing an additional 144,268 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Ambarella by 8.9% in the 4th quarter. William Blair Investment Management LLC now owns 829,052 shares of the semiconductor company’s stock valued at $60,305,000 after purchasing an additional 68,044 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Ambarella in the 4th quarter valued at approximately $52,770,000. 82.09% of the stock is owned by institutional investors.

Ambarella Price Performance

AMBA opened at $62.62 on Friday. The business’s 50-day moving average is $49.55 and its two-hundred day moving average is $63.19. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15. The firm has a market capitalization of $2.66 billion, a PE ratio of -16.22 and a beta of 1.99.

Insider Buying and Selling at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 3,194 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $175,733.88. Following the transaction, the chief executive officer now owns 798,311 shares in the company, valued at approximately $43,923,071.22. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John Alexander Young sold 2,103 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $115,707.06. Following the transaction, the chief financial officer now owns 113,886 shares in the company, valued at $6,266,007.72. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,328 shares of company stock worth $513,467 over the last three months. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMBA shares. Stifel Nicolaus decreased their price target on shares of Ambarella from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Susquehanna upped their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Needham & Company LLC raised their target price on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ambarella presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Ambarella 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.