Nvidia Executives Sell Company Stock
Date
11/23/2024 6:41:41 AM
(MENAFN- Baystreet)
An Nvidia (NVDA) executive and board member have filed plans to sell millions of dollars worth of company stock.
Ajay Puri, Nvidia's executive vice-president of worldwide field operations, has filed a Rule 10b5-1 plan with the U.S. Securities and Exchange Commission (SEC) to sell 204,890 shares through Dec. 30, 2025.
Based on Nvidia's current share price of $146.67 U.S., the stock sale would net Puri $30 million U.S.
At the same time, Nvidia board member Aarti Shah has filed to sell up to 29,000 Nvidia shares through March 31, 2026, which would be valued at $4.3 million U.S. based on the current price.
Company insiders such as Puri and Shah typically use Rule 10b5-1 plans to remove the appearance of bias from the knowledge of non-public information.
The plans automatically execute trades when preset conditions, such as price, volume, and timing are met.
News of the stock sales comes after Nvidia reported strong third-quarter financial results.
However, despite beating on the top and bottom lines, the Q3 print showed a pattern of slowing growth at the chipmaker.
While Nvidia's Q3 sales were up 94% from a year earlier, that growth has slowed from increases of more than 200% in previous quarters.
The latest insider sales at Nvidia do not involve chief executive officer (CEO) Jensen Huang, who earlier this year sold $713 million U.S. worth of company stock.
The stock of Nvidia has risen 205% this year and currently trades at $146.67 U.S. a share.
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