NVIDIA Corporation (NASDAQ: NVDA) stock fell over 1% in the pre-market trading Wednesday. Mark Stevens, a director at Nvidia, recently offloaded shares valued at over $9.96 million.
The recent regulatory filing revealed that Mark A. Stevens, a director at Nvidia, sold 11,000 shares on March 28. The transaction, conducted at an average price of $905.65 per share, resulted in a total value exceeding $9.96 million.
According to the filing, Stevens sold the shares at varying prices ranging from $903.60 to $907.40, leaving him with a substantial remaining stake in the company. He still holds 1,074,833 (1.07 million) shares indirectly through a trust. In addition, the filing disclosed holdings in other trusts, including 1,725,195 (1.72 million) shares held by the Envy Trust and 1,291,853 (1.29 million) shares owned directly.
The transaction comes as part of routine financial operations conducted by company insiders.
Investors closely monitor insider transactions like these for insights into executive sentiment and confidence in the company’s prospects. They also use it as one of many indicators to gauge the company’s health and potential performance. While insider selling can sometimes raise concerns among stakeholders, it’s essential to consider that such transactions may occur for various reasons, including portfolio diversification, financial planning, or personal reasons unrelated to the company’s performance.
NVIDIA (NASDAQ: NVDA) Stock Price Action
NVDA stock declined 1.01% to close at $894.52 on Tuesday. The traders had exchanged hands with 43,306,356 (43.30 million) shares compared to the average daily trading volume of 53.88 million.
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