Nvidia (NASDAQ: NVDA) insiders are accelerating their selling spree, with one of the company’s largest shareholders cashing out a substantial stake.
According to a newly filed SEC Form 4, Mark Stevens, Nvidia’s second-largest shareholder and a board member since 2008, sold over 1.06 million shares of Nvidia stock across two transactions on June 2 and June 3.
The filing shows that Stevens sold 125,836 shares at an average price of $137.78, followed by a larger sale of 935,000 shares at an average price of $140.91. In total, the transactions netted him approximately $150 million.

Interestingly, the sales come just days after Nvidia’s highly anticipated May 28 earnings report, which once again reinforced the company’s leadership in the AI chip market.
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NVDA share price performance
At the time of writing, Nvidia stock is trading at $142.94, up 2.10% on the day. NVDA stock is now back in the green year-to-date up 3.26% and an impressive 25.79% over the past month, driven largely by soaring demand for its cutting-edge AI hardware.
Notably, Mark Stevens is not the only insider taking profits. Fellow board member Robert Burgess also sold 10,000 shares worth $6.74 million on June 3. Meanwhile, CEO Jensen Huang has activated a Rule 10b5-1 trading plan to sell 6 million shares, potentially worth over $800 million based on current prices.
According to the filing, Stevens still retains a sizable position of more than 16 million Nvidia shares, reflecting his long-standing commitment to the company. However, this latest wave of insider sales, now approaching $1 billion collectively in just a few weeks, is raising eyebrows on Wall Street, particularly as Nvidia trades at record valuations.
Commenting on the developments, Finbold research author Diana Paluteder said:
“Nvidia remains the undisputed leader of the AI hardware race, but this level of insider selling signals that even top stakeholders see the wisdom in de-risking after such a parabolic move. The market will be watching closely to see if this triggers renewed volatility in the stock.”
As Nvidia rides the AI wave into the second half of 2025, the contrast between its bullish public narrative and the private actions of its insiders is giving investors plenty to consider.
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