Mark A. Stevens, a director of semiconductor giant Nvidia (NVDA), sold common stock worth approximately $88.55 million over the last couple of trading sessions. This marks the director’s fourth consecutive sale of NVDA stock this year, suggesting he is cashing in on the recent surge in its share price. NVDA stock has surged 32.4% so far this year, fueled by robust demand for its cutting-edge artificial intelligence (AI) chips and strong momentum from its Blackwell platform.
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Stevens is one of Silicon Valley’s renowned venture capitalists, having held an esteemed position at Sequoia Capital. He now runs his own family office fund, S-Cubed Capital, and has served on Nvidia’s board since 2008.
Insider share sales usually indicate caution about a company’s future, but can also happen for personal reasons. Hence, it is important to watch these trades for clues on the company’s growth expectations.
A Closer Look at the Insider’s Transactions
According to the Form 4 filed with the SEC on September 15, Stevens sold 497,797 NVDA shares on September 11 and September 12. Shares were sold in multiple tranches at weighted average prices ranging between $177.4701 and $178.1899 apiece.
Despite these sizable sales, Stevens still holds roughly $8 billion worth of Nvidia stock, both directly and through trusts, based on the closing price of $177.75 on September 15.
NVDA stock currently has a Negative Insider Confidence Signal on TipRanks, based on Informative Sell transactions worth $192.3 million, undertaken in the last three months.
Is NVDA Stock a Buy, Hold, or Sell?
Wall Street remains highly optimistic about Nvidia’s long-term outlook. On TipRanks, NVDA stock has a Strong Buy consensus rating based on 36 Buys, two Holds, and one Sell rating. The average Nvidia price target of $211.11 implies 18.8% upside potential from current levels.
