(Bloomberg) — Nvidia Corp. insiders stepped up stock sales after the chipmaker’s blowout earnings report last week sent shares soaring to another record.
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Directors at the Santa Clara, California-based company unloaded 99,000 shares worth about $80 million at the time of the sales, according to Form 4 filings. That amounts to the biggest disposal of shares by Nvidia insiders in a month since September when 237,500 shares were sold, according to data compiled by the Washington Service.
Nvidia shares jumped 16% on Feb. 22, the day after the maker of chips used in artificial intelligence computing beat elevated earnings expectations and delivered another eye-popping revenue forecast. The stock is up 59% this year, making it the best performer in the S&P 500 Index and adding more than $700 billion in market value.
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