Insiders of the American Nvidia Corp. have sold more than $1bn worth of the company’s shares over the past 12 months, the Financial Times reports.
In particular, in June they sold securities for more than $500 million.
Nvidia CEO Jensen Huang last week began selling shares for the first time since September. The company said all of his shares were subject to a pre-structured trading programme that set prices and sale dates. The programme was agreed in March, with the CEO able to sell 6 million shares by the end of the year.
The bulk of the stake is still held by Huang.
On Friday, the chipmaker’s securities rose 1.8 per cent to a record $157.75 apiece.
Apparently, Huang started selling them after breaking through the $150 a piece level, notes VerityData, a company that tracks insider selling.
Nvidia shares are up 0.7 per cent during earlier trading on Monday.