In recent months, there has been a notable uptick in insider trading among major stocks, with CEOs and significant shareholders seizing opportunities for profit-taking.
Nvidia (NASDAQ: NVDA) has particularly stood out as a frequent choice for selling among its prominent shareholders.
For instance, Mark Stevens, the second-largest Nvidia shareholder and a board member since 2008, recently offloaded 11,000 NVDA shares at an average price of $905 per share, totaling approximately $10 million.
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This trade puts his sales over the $100 million threshold since the start of 2024.
Other insider sales trample Steven’s
While Steven’s trading activity is notable, it pales in comparison to the recent move by Tench Coxe, Nvidia’s third-largest shareholder. Coxe made a substantial decision to cash in on his holdings, selling a whopping 200,000 NVDA shares, totaling an impressive $170 million.
What makes this move even more remarkable is that Coxe acquired these shares way back in 1997, well before Nvidia’s IPO in 1999, when each share was priced at a mere $0.82. Since then, their value has soared by an incredible 110,098%.
Moreover, in the aftermath of Nvidia’s outstanding earnings report in February, other directors also opted to sell off 99,000 shares. At the time of sale, these shares were valued at approximately $80 million.
Nvidia stock price chart
As of the last closing on April 1, NVDA stock is currently trading at $903.63. Despite a rocky start that initially had it trading in the red, it managed to eke out a 0.01% gain in value.
However, over the past five sessions, NVDA shares faced a less favorable trend, experiencing a decline of -3.86%.
Yet, when considering the year-to-date (YTD) performance of NVDA, these recent losses seem minor. The stock has impressively gained 87.60% in value, demonstrating its robust overall growth trajectory.
Considering the remarkable gains in the recent period, it’s understandable why Stevens chose to seize the opportunity to capitalize on his profitable holdings.
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