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Ambarella Inc [AMBA] stock for 169,658 USD was sold by Wang Feng-Ming

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ambarella Inc shares valued at $169,658 were sold by Wang Feng-Ming on Jun 18 ’24. At $55.48 per share, Wang Feng-Ming sold 3,058 shares. The insider’s holdings dropped to 803,574 shares worth approximately $44.92 million following the completion of this transaction.

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Also, Young John Alexander sold 2,157 shares, netting a total of over 119,670 in proceeds. Following the sale of shares at $55.48 each, the insider now holds 105,414 shares.

Before that, Kohn Leslie had sold 1,623 shares from its account. In a trade valued at $90,044, the Chief Technology Officer traded Ambarella Inc shares for $55.48 each. Upon closing the transaction, the insider’s holdings decreased to 1,623 shares, worth approximately $53.83 million.

As published in a research note from Wells Fargo on January 03, 2024, Ambarella Inc [AMBA] has been rated down from an Overweight to an Equal weight and the price target has been revised to $65 from $85. Analysts at Northland Capital started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid September. As of August 30, 2023, Needham has reiterated its “Buy” rating for AMBA. Earlier on August 30, 2023, TD Cowen downgraded its rating. Their new recommendation was “a Market perform” for AMBA stock which previously was a “an Outperform”.

Analyzing AMBA Stock Performance

During the last five days, there has been a drop of approximately -2.66%. Over the course of the year, Ambarella Inc shares have dropped approximately -8.79%. Shares of the company reached a 52-week high of $65.39 on 02/28/24 and a 52-week low of $40.31 on 04/22/24. A 50-day SMA is recorded $49.25, while a 200-day SMA reached $53.22. Nevertheless, trading volume fell to 0.71 million shares from 0.76 million shares the previous day.

Support And Resistance Levels for Ambarella Inc (AMBA)

According to the 24-hour chart, there is a support level at 54.66, which, if violated, would cause prices to drop to 53.41. In the upper region, resistance lies at 57.14. The next price resistance is at 58.37. RSI (Relative Strength Index) is 57.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.16, which suggests the price will decrease in the coming days. Percent R is at 74.50%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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