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Monster insider trade alert for Nvidia (NVDA) stock

Monster insider trade alert for Nvidia (NVDA) stock
Elmaz Sabovic

The recent heavy insider trading activity of Nvidia (NASDAQ: NVDA) stock has worried many investors, as NVDA shares suffered during this selloff, losing almost 13% of their value. 

However, insiders don’t seem done, as CEO Jensen Huang filed for another sale of NVDA stock.

Namely, on July 1, Huang filed for a sale of an additional 234,000 NVDA shares worth approximately $29.7 million, totaling $184 million worth of shares sold in the last three weeks.

Huang's sale of NVDA stock. Source: SEC
Huang’s sale of NVDA stock. Source: SEC

Other NVDA insiders were active too

In contrast to the optimism of retail investors, Nvidia insiders, including top executives and directors, have aggressively sold their shares. Among these are Board member Tench Coxe, CFO Colette Kress, and several directors.

Coxe sold approximately 100,000 Nvidia shares in the previous month at an average price of $119 for a total profit of $11.9 million.

Kress was more active, offloading nearly three times as much as her colleague, with 264,000 shares sold for a profit of $32 million.

Overall, in the last three months, 23 insider sales of NVDA stock have occurred compared to 0 buys, for a total of 2,461,421 shares sold.

NVDA stock insider trading activity for the previous three months. Source: Barchart
NVDA stock insider trading activity for the previous three months. Source: Barchart

Institutional investors are losing confidence in NVDA

On June 27, Wells Fargo announced adjustments to its Signature Picks equity portfolio, reducing its overweight position in Nvidia from 6.8% to 5%, citing “risk purposes.” 

Additionally, seasoned tech investor Paul Wick of Seligman Investments has reduced his holdings in Nvidia, expressing doubts about the company’s future earnings growth.

Speaking at a UBS Group event in Singapore, Wick mentioned that his enthusiasm for Nvidia had diminished over the past one to two weeks. However, he did not specify the extent of his NVDA stake reduction.

Strong insider activity, coupled with the sales of institutional shareholders, might indicate a potential downturn in the NVDA stock price in the future.

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