Nvidia (NASDAQ: NVDA) stock continues to climb, reaching a new all-time high just before the June 10 stock split, prompting many insiders to offload their Nvidia stock holdings.
Tench Coxe, Nvidia’s third-largest shareholder, cashed in on his holdings by selling 130,000 NVDA shares, totaling $120 million, on June 7 at an all-time high of $1,208 per share.
Coxe acquired these shares in 1997 as a venture capitalist before Nvidia’s IPO in 1999. At that time, shares were priced at $0.82 each ($0.040 adjusted for post-stock split price). Since then, they have surged by an incredible 304,375%.
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Other Nvidia shareholders opted for profits as well before the NVDA stock split
In days leading up to the Nvidia stock split, prominent shareholders decided to cash in on some of their holdings for $200 million worth of shares sold (including Tench Coxe’s sale) between June 1 and June 7.
Mark Stevens, a director since 2008, sold 52,500 shares during this period, with prices ranging from $1,139 to $1,199, totaling approximately $61 million.
Debora Shoquist, Vice President of Operations, sold 41,000 shares on June 4 and June 5 at prices of $1,144 and $1,202, respectively, for a total of $47 million.
NVDA stock is under heavy insider selling activity
Over the past 12 months, NVDA stock experienced an impressive 208.49% gain. During this period of significant growth, company insiders took advantage of the positive development to sell shares and realize profits.
Overall, with 50 sales and no buys in the previous 12 months and over 1.4 million NVDA shares sold, Nvidia has the second-highest insider trading activity, second only to Amazon (NASDAQ: AMZN).
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