Here’s the record amount Nvidia insiders have sold in 2024
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With Nvidia’s (NASDAQ: NVDA) stock rallying massively in 2024, the trajectory has coincided with a period when the chipmaker’s insiders have been on a selling spree, offloading the highest number of shares in history. Particularly, the insiders have sold over $1.8 billion worth of stock, or almost 11 million shares, in 2024, marking the highest level since 2020, data compiled by The Washington Service indicates. Nvidia insider stock sales by year. Source: The Washington Service Despite the record sales, speculation remains that the executives and directors will likely sell more in the coming months. CEO Jensen Huang led the pack after completing a planned sale of over $700 million of NVDA shares. After Huang’s sale, other insiders, led by Mark Stevens, a member of Nvidia’s board of directors, have also shown a notable uptick in selling their holdings. Stevens’ latest transaction involved $4,840,356. Other sellers include Tench Coxe, Nvidia’s third-largest shareholder and director, Chief Financial Officer Colette Kress, and Principal Accounting Officer Donald Robertson. Concerns regarding Nvidia insider selling Indeed, these sales have raised concerns regarding investor confidence in the company’s short-term outlook, considering that as the sales accelerated, Nvidia’s share price faced notable volatility alongside significant capital swings. The concerns were further elevated considering the recent misfortunes that hit the technology giant. For instance, the technology giant has faced a possible antitrust investigation by the United States government, delays in the rollout of the highly anticipated Blackwell chips, and growing competition in the artificial intelligence (AI) semiconductor space. In keeping up with the legal situation, Finbold reported that the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) accused Nvidia of misrepresenting the source of over $1 billion in GPU sales that were reportedly delivered to crypto miners. What next for Nvidia stock? Looking ahead, Nvidia stock…
Filed under: News - @ October 5, 2024 3:26 pm