Nvidia CEO Jen-Hsun Huang Sells Over $26 Million in Company Stock.
Nvidia Corp $NVIDIA (NVDA.US)$ President and CEO Jen-Hsun Huang has sold a significant portion of his holdings in the company, according to recent filings with the Securities and Exchange Commission. The transactions, carried out over two days, resulted in the sale of Nvidia shares worth over $26 million.
The sales occurred on September 10th and 11th, with prices per share ranging from $104.99 to $117.072. These transactions were executed under a pre-arranged trading plan, known as a Rule 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading.
While the exact number of shares sold at each price point was not disclosed in the filing, the weighted average prices for the shares sold on each day were provided in footnotes, indicating a range of prices within approximately one dollar of the average price reported for each batch of sales.
As a result of these sales, Jen-Hsun Huang's direct ownership in Nvidia stock has been adjusted, but he remains a significant shareholder through various indirect holdings. These include shares held by trusts and partnerships where Huang serves as a trustee or has a controlling interest.
Investors often monitor the buying and selling activity of company executives as it can provide insights into their confidence in the company's future performance. However, sales made under Rule 10b5-1 trading plans are scheduled in advance and may not necessarily reflect the executive's real-time perspective on the company's outlook.
Nvidia's stock performance and market position continue to be of keen interest to investors, particularly as the semiconductor industry experiences shifts in demand and supply chain dynamics. The company has not provided any comments on these specific transactions at this time.
In other recent news, Nvidia's shares saw a significant 8% increase following reports of the U.S. government possibly allowing the export of advanced chips to Saudi Arabia. Goldman Sachs reaffirmed its Conviction Buy rating on Nvidia, highlighting the company's strategic position and growth prospects in the accelerated computing space, particularly within data centers. The company's CEO, Mr. Huang, emphasized Nvidia's competitive advantages, including a broad GPU installed base, the integration of hardware with domain-specific software libraries, and the capacity to create rack-level systems with innovations across various chips.
In related developments, data center operator Switch considering an initial public offering (IPO) that could potentially value the company at approximately $40 billion. This move comes amidst a surge in demand for data infrastructure driven by the growing interest in generative artificial intelligence, benefiting companies like Nvidia.
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骨神 : Hope he finished already
Michael Fong : This is already history and now awaiting his buyback to retain control of Nvidia.
103938782 : He is showing bad leadership. And people is accepting it. In the end who cares when the shares can keep going up and giving dividends.
103938782 Michael Fong : Read the announcement.
103938782 : Since the President and CEO of the company likes to sell, I will also follow.
Lucky Uncle : Brother, go and see how many stocks he has. He is only selling a small portion of his stocks.
102514703 : You have 1000 shares, can't you sell 10 shares? Do you have to hold until death? He only sells 0.3 billion, the company buys back 50 billion, what are you afraid of, even institutions holding 1.3 trillion support nvda.
JaiWyckoff : Move on brother
Simon 5183 : The bears are going to counterattack today, setting the direction here now.
WillsonToh : Steal money from investors and keep say company is doing good but selling 🫣. Then ask Nvidia to buy back stock but in factor left pocket and right pocket in
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