One of Nvidia’s (NASDAQ: NVDA) largest individual shareholders has sold almost $1 billion worth of stock in a matter of weeks, coinciding with the technology giant’s sustained bullish run.
The latest transaction occurred on September 18, when board member Mark Stevens disposed of roughly 1.37 million shares worth about $300 million.
The sale extends an aggressive wave of Nvidia insider selling by Stevens, a longtime director and former Sequoia Capital managing partner.
Despite the latest disposal, he remains one of the company’s largest individual shareholders, with a stake worth an estimated $6.3 billion at current prices.
According to an SEC filing, Stevens sold 1,366,000 Nvidia shares through trusts at weighted average prices ranging from approximately $219.72 to $220.42 per share.
The filing shows that 1,356,000 shares were sold at an average price of $219.72, while another 10,000 shares were disposed of at an average price of $220.42. Following the transactions, Stevens retained indirect ownership of approximately 27.53 million Nvidia shares.
The latest sale generated proceeds of about $300 million and adds to a string of large transactions completed over the past month.
Stevens recent NVDA share sales
Recent filings indicate Stevens has sold nearly $947 million worth of Nvidia stock in recent weeks.
The latest disposal follows earlier transactions that generated approximately $411 million between late August and early September, as well as additional sales worth roughly $236 million shortly afterward.
Notably, the September 18 transaction does not appear to have been executed under a prearranged Rule 10b5-1 trading plan. Such plans allow corporate insiders to schedule stock sales in advance and are often used to reduce concerns about market timing.
Stevens has served on Nvidia’s board since 2008 after previously holding a director role between 1993 and 2006. Over the years, he has consistently reduced his Nvidia holdings, with cumulative sales totaling billions of dollars.
What the sale means for Nvidia stock
The latest disclosure comes as the semiconductor firm’s shares continue to benefit from strong investor demand tied to artificial intelligence infrastructure spending.
The stock closed at $228 on September 22 after a six-session winning streak that lifted shares about 8.6%.
While insider sales do not necessarily signal weakening confidence, the scale of Stevens’ transactions has attracted attention because Nvidia insiders have collectively reported more than $2 billion in stock sales over the past 12 months without a single open-market purchase.
Investors often view large insider sales through different lenses. Some transactions reflect portfolio diversification, tax planning, or estate management after years of stock appreciation.
At the same time, sustained discretionary selling can weigh on sentiment, particularly when no insider buying offsets the activity.
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