Insiders Are Selling These 5 Stocks in 2024

1. Nvidia Corp (NASDAQ:NVDA)

Number of Hedge Fund Investors: 173

Nvidia Corp (NASDAQ:NVDA) shares have gained about 82% in 2024 through March 17 and many analysts believe there is no end in sight to the stock’s growth. But the stock did see several insider selling transactions in February and March this year. Does it mean the stock is poised for a pullback? Only time would tell. Tench Coxe, a director at Nvidia Corp’s (NASDAQ:NVDA) board, sold 200,00 shares of Nvidia Corp (NASDAQ:NVDA) at $850.10 per share on March 5. Since then the stock has gained about 3.36%.

Another director at Nvidia Corp (NASDAQ:NVDA), Mark A. Stevens, sold 21,600 shares of Nvidia Corp (NASDAQ:NVDA) at $919.30 per share on March 7. On that day the stock closed trading at $929.69. Since then through March 17 the stock has lost about 5.2% in value.

Alger Spectra Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its fourth quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super- computing parallel processing techniques for solving complex computational problems. Simply put, Nvidia’s computational power is a critical enabler of Al and therefore critical to Al adoption, in our view. During the period, shares contributed to performance as Nvidia reported solid fiscal third quarter results well above analyst expectations, driven by strong demand from data centers. Growing Al data center workloads are driving demand for the increased interconnections and fully accelerated software stacks, thereby enabling leading application performance and fast result times.”

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