State of New Jersey Common Pension Fund D Sells 3,219 Shares of Ambarella, Inc. (NASDAQ:AMBA)

State of New Jersey Common Pension Fund D cut its stake in Ambarella, Inc. (NASDAQ:AMBA) by 8.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,561 shares of the semiconductor company’s stock after selling 3,219 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ambarella were worth $2,587,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMBA. Blue Trust Inc. lifted its position in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the last quarter. Signaturefd LLC lifted its position in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 526 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 842 shares during the last quarter. R Squared Ltd bought a new stake in shares of Ambarella during the fourth quarter worth $68,000. Finally, Truvestments Capital LLC bought a new stake in shares of Ambarella during the third quarter worth $69,000. 82.09% of the stock is currently owned by institutional investors.

Ambarella Stock Performance

Shares of AMBA stock opened at $81.27 on Friday. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -21.05 and a beta of 1.66. The stock’s 50-day simple moving average is $76.15 and its 200-day simple moving average is $63.84.

Insider Transactions at Ambarella

In related news, COO Chan W. Lee sold 1,488 shares of Ambarella stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $112,210.08. Following the completion of the sale, the chief operating officer now owns 119,918 shares of the company’s stock, valued at $9,043,016.38. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now directly owns 158,686 shares of the company’s stock, valued at $12,014,117.06. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,861 shares of company stock worth $1,945,436. Insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

AMBA has been the subject of several research analyst reports. Northland Securities reiterated an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Needham & Company LLC lifted their target price on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday, December 16th. Finally, Susquehanna raised their price target on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.42.

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.