Nvidia (NASDAQ: NVDA) CEO Jensen Huang appears to be taking some profit from his stake in the company after executing a notable selling spree of almost $40 million over the past week.
Specifically, the executive offloaded over 260,000 shares worth approximately $37 million in different tranches between June 23 and June 26, according to filings with the Securities and Exchange Commission.
The sales were disclosed in over a dozen separate transactions, with prices ranging from about $142.80 to $156.64 per share. The largest single chunk appeared on June 25, when Huang sold over 54,000 shares at an average price of $155.64 per share, netting over $8.4 million in that transaction alone.
Other sizeable sales included more than 42,000 shares on June 24 at $147.17, along with multiple trades in the 10,000–30,000 range spread over three days.
Despite the scale of these insider sales, Huang still retains over 75 million shares. His transactions are part of a larger trading plan announced in March to sell up to 6 million shares, a move expected to raise over $900 million by the end of the year.
Insider on selling spree as NVDA hits record high
Huang isn’t the only insider on a selling spree, with data indicating that the company’s top leadership has sold $1 billion in stock over the past year, including approximately $500 million in the last month alone.
The selling comes at a time when Nvidia stock has been on an upward tear, building on the broader momentum for semiconductor producers that have turned bullish.
The chipmaker hit a new record high and extended its rally for five consecutive days after the stock sales and its annual meeting, where the artificial intelligence (AI) company highlighted robotics as the company’s biggest opportunity beyond AI.
At the close of Friday’s session, NVDA shares traded at $157.75, up almost 2%. Year-to-date, the share price is up 14%.
Indeed, Nvidia is likely to see further momentum after the United States reached a trade deal with China, which will alleviate the uncertainty caused by recent trade tensions.
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