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Is it a good time to sell Ambarella Inc [AMBA] shares after an insider sold 240 shares?

Ambarella Inc’s recent filing unveils that its Director Schwarting Elizabeth M unloaded Company’s shares for reported $11873.0 on Mar 20 ’24. In the deal valued at $49.47 per share,240 shares were sold. As a result of this transaction, Schwarting Elizabeth M now holds 6,164 shares worth roughly $0.28 million.

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Then, Wang Feng-Ming sold 2,173 shares, generating $107,064 in total proceeds. Upon selling the shares at $49.27, the CEO now owns 806,632 shares.

Before that, Young John Alexander sold 1,546 shares. Ambarella Inc shares valued at $76,171 were divested by the CFO at a price of $49.27 per share. As a result of the transaction, Young John Alexander now holds 107,571 shares, worth roughly $4.95 million.

Wells Fargo downgraded its Ambarella Inc [AMBA] rating to an Equal weight from a an Overweight in a research note published on January 03, 2024; the price target was decreased to $65 from $85. A number of analysts have revised their coverage, including Northland Capital’s analysts, who began to cover the stock in mid September with a ‘”an Outperform”‘ rating. Needham also remained covering AMBA and reiterated its “Buy” recommendation on August 30, 2023. TD Cowen revised its rating on August 30, 2023. It rated AMBA as “a Market perform” which previously was an “an Outperform”.

Price Performance Review of AMBA

On Monday, Ambarella Inc [NASDAQ:AMBA] saw its stock jump 0.26% to $45.97. Over the last five days, the stock has lost -3.87%. Ambarella Inc shares have fallen nearly -25.00% since the year began. Nevertheless, the stocks have fallen -30.51% over the past one year. While a 52-week high of $89.18 was reached on 02/28/24, a 52-week low of $40.31 was recorded on 04/22/24. SMA at 50 days reached $48.48, while 200 days put it at $55.72. A total of 0.67 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For AMBA Stock

The 24-hour chart illustrates a support level at 45.22, which if violated will result in even more drops to 44.48. On the upside, there is a resistance level at 47.19. A further resistance level may holdings at 48.41. The Relative Strength Index (RSI) on the 14-day chart is 47.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.83%. Stochastics %K at 64.79% indicates the stock is a holding.

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