Nvidia (NVDA) Insider Moves: Director Stevens Offloads $149M in Stock

One of Nvidia’s (NVDA) directors, Mark A. Stevens, has sold shares of the company worth $149.1 million recently. The transaction is part of Stevens’ larger plan, disclosed in a filing on Monday, to potentially offload up to 4 million Nvidia shares, which were valued at about $550 million at the time.

According to the SEC filing, Stevens divested 1,060,836 shares of NVDA on June 2 and June 3, at prices ranging from $137.75 to $141.33 per share. It must be noted that the shares were held by the Third Millennium Trust, where Stevens and his spouse act as co-trustees.

Following the latest transaction, he still holds 36.8 million Nvidia shares valued at about $5.2 billion. Stevens, the largest individual Nvidia shareholder after CEO Jensen Huang, owns about 0.2% of the company.

NVDA designs and manufactures advanced graphics processing units (GPUs) and AI computing technology.

Bearish Insider Trading Signal

Stevens is not the only one taking advantage of NVDA’s bull run. Overall, corporate insiders have sold $162 million worth of stock over the past three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in the stock is currently Negative.

However, this doesn’t necessarily signal trouble for the company. Given Nvidia’s impressive growth and the increasing adoption of AI technologies, these insider transactions may not be a cause for concern.

Investors may benefit from keeping an eye on transactions made by key insiders, as these trades typically reflect their trust in the company’s future. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.

Is Nvidia a Good Stock to Buy Now?

Turning to Wall Street, NVDA has a Strong Buy consensus rating based on 35 Buys, four Holds, and one Sell assigned in the last three months. At $172.36, the average Nvidia price target implies 21.45% upside potential.

See more NVDA analyst ratings