2023-09-08 09:30:00
Nvidia CEO Jensen Huang sells $42M in shares
One of the most notable stocks in 2023 was the semiconductor company Nvidia Corp (NASDAQ:NVDA), with CEO Jensen Huang at the helm. The stock soared on growing demand for artificial intelligence platforms, becoming one of the few publicly traded companies to reach a $1 trillion market capitalization.
As the stock rose, several insiders began selling.
What happened to the CEO of Nvidia?
Jensen HuangCEO and co-founder of Nvidia, saw how his wealth increased in 2023 as one of the company’s largest shareholders.
New files of the company revealed that Huang sold shares in recent trading sessions.
Of the files Separates from Nvidia show that Jensen Huang exercised stock options in blocks of 29,688 shares with an exercise price of $4. Three separate transactions saw this number of common shares exercised via options from September 1st to September 6th.
The purchased shares were then sold in three blocks over the same time period, with share prices ranging from $466.13 to $497.17.
According to the records, Huang made profits of about $14 million in each of the three sales blocks, with a total of $42,828,053 from stock sales.
It is important to note that all sales were part of the plans 10b5-1 established by Huang in March 2023. A 10b5-1 plan is a predetermined plan that can lock in elements such as the transaction date, exercise date, and sale price before the transaction occurs.
This can be helpful for executives to eliminate doubt that the numbers are due to weakened sales or material events.
Although some may consider Huang selling when Nvidia stock is peaking and this could be a sign of future pressure, the selling was predetermined earlier this year.
Continue reading the story
¿Because it is important?
After the sale of the newly acquired shares, Huang remains one of Nvidia’s largest shareholders. The sale did not include any of the shares he previously owned, only the new ones acquired through the exercise of options.
To gasoline previously reported about Nvidia board member, Tench Coxeselling shares of the company on several occasions during 2023.
Board members Harvey Jones y Brooke Seawell They also sold shares from the company earlier this year.
Many of the shares sold by board members had been held for several years and were sold after the shares reached all-time highs.
Insider sales can occur for a variety of reasons, including tax purposes or to offset low salaries and compensation.
Coxe and Huang remain two of Nvidia’s largest individual shareholders.
According to Bloomberg, Huang is currently the 29th richest person in the world with a net worth of $41.9 billion. Huang’s wealth has increased by $28.1 billion so far this year.
NVDA Stock Movement
Nvidia shares are trading at $462.41 compared to a 52-week trading range of $108.13 to $502.66. The company’s shares have increased 227% so far in 2023.
You can also read: Nvidia Stock Targets Record Territory on Thursday
1694182281
#Nvidia #CEO #Jensen #Huang #sells #42M #shares