NVIDIA Corporation (NASDAQ: NVDA) shares fell in pre-market trading Thursday following news of top executives selling over $53 million worth of company stock.
Nvidia recently disclosed that its President and CEO, Jen-Hsun Huang, and Executive Vice President and CFO, Colette Kress, have executed significant sales of company shares on June 24th and June 25th, totaling approximately $53 million. This information comes from recent filings with the Securities and Exchange Commission (SEC).
Jen-Hsun Huang sold Nvidia shares amounting to around $29.31 million, with shares sold at prices ranging from $118.63 to $126.19 per share.
The SEC filing detailed that Huang sold the shares at different prices over the two days, ranging from $118.11 to $124.25 per share on June 24th, and from $119.37 to $126.4 on June 25th.
Similarly, Colette Kress sold Nvidia stock worth over $24 million. She sold shares on June 24th, priced between $118.7148 and $123.5797 per share, and on June 25th, priced between $119.8649 and $126.461 per share.
Both executives conducted their sales under a pre-arranged trading plan known as a Rule 10b5-1 trading plan. Colette Kress had established her trading plan on March 22, 2024. This type of plan lets insiders sell a predetermined number of shares at predetermined times, aiming to avoid accusations of insider trading by ensuring they make trades without using non-public information.
NVIDIA (NASDAQ: NVDA) Stock Movement
As of 08:21 a.m. (Eastern Time) Thursday, NVDA stock traded at $124.41, marking a 1.57% decrease compared to the previous trading session.
