{"id":26147,"date":"2023-06-22T16:26:02","date_gmt":"2023-06-22T20:26:02","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/nvidia-board-member-sells-51-million-in-stock-joining-a-pair-of-other-long-timers-in-unloading-shares\/"},"modified":"2023-06-22T16:26:04","modified_gmt":"2023-06-22T20:26:04","slug":"nvidia-board-member-sells-51-million-in-stock-joining-a-pair-of-other-long-timers-in-unloading-shares","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26147","title":{"rendered":"Nvidia board member sells $51 million in stock, joining a pair of other long-timers in unloading shares"},"content":{"rendered":"
\n

One more longstanding Nvidia Corp. board member has cashed out of some of his holdings in the wake of the stock\u2019s stratospheric rally, though he remains a big stakeholder in the chip company. <\/p>\n

Mark Stevens, who\u2019s been on Nvidia\u2019s
\n NVDA,
\n -0.05%<\/bg-quote>
\n board since 2008 and served a prior stint as a director from 1993 to 2006, unloaded 118,602 shares of Nvidia across Friday\u2019s and Tuesday\u2019s trading sessions, according to a Wednesday filing. He sold at prices ranging from $429.90 to $434.20, meaning that he pocketed just over $51 million from the sales, which were done with shares that he held indirectly in a trust with his wife. <\/p>\n

\n

Nvidia declined to comment when asked if the company or Stevens had comment on the transactions.<\/p>\n

See more: Nvidia could be the most valuable company in a few years, this analyst says<\/strong><\/p>\n

Stevens joins a pair of other longtime directors who\u2019ve made recent sales amid the sharp advancement in Nvidia shares, which are up 195% so far this year. Tench Coxe revealed a $21 million sale of stock last week, adding to one worth $38 million that he made earlier in June. Harvey Jones, also on Nvidia\u2019s board, dumped more than $48 million in stock last week after selling more than $28 million earlier in the month. <\/p>\n

See more:<\/strong> Nvidia board member dumps $48 million more in stock amid monster rally<\/p>\n

Don\u2019t miss: Another Nvidia board member unloads stock, this time to the tune of $21 million<\/strong><\/p>\n

Through his long history with Nvidia, Stevens has amassed a sizable chunk of the company\u2019s stock, and he remains heavily invested in the company even after the recent sales. <\/p>\n

FactSet listed Stevens as the second-largest insider or stakeholder investor in Nvidia shares prior to the recent sales, behind just Jensen Huang, the company\u2019s co-founder and chief executive. <\/p>\n

Wednesday\u2019s filing indicates that Stevens continues to own 1.05 million shares of Nvidia in the trust he shares with his wife, along with 1.98 million shares in another trust. He also owns 1.29 million shares directly. <\/p>\n

Nvidia\u2019s stock has been a big winner this year as Wall Street sees a massive opportunity for the company to cash in on interest in artificial intelligence, which will require companies to spend on hardware that can train models. <\/p>\n

Read: Nvidia is the only near-term \u2018beat and raise\u2019 chip maker when it comes to AI, analyst says<\/strong><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

One more longstanding Nvidia Corp. board member has cashed out of some of his holdings in the wake of the stock\u2019s stratospheric rally, though he remains a big stakeholder in the chip company. Mark Stevens, who\u2019s been on Nvidia\u2019s NVDA, -0.05% board since 2008 and served a prior stint as a director from 1993 to […]<\/p>\n","protected":false},"author":1,"featured_media":26148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-26147","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nNvidia board member sells $51 million in stock, joining a pair of other long-timers in unloading shares | iFintechWorld<\/title>\n<meta name=\"description\" content=\"One more longstanding Nvidia Corp. board member has cashed out of some of his holdings in the wake of the stock\u2019s stratospheric rally, though he remains a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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