Nvidia Director Harvey Jones Just Sold $28 Million of NVDA Stock


  • Another Nvidia (NVDA) board member recently offloaded some shares.
  • This simply suggests that company insiders see this as an ideal time to take profits from the stock.
  • NVDA hasn’t been negatively impacted by the recent trend of insiders selling.
"NVDA stock" - Nvidia Director Harvey Jones Just Sold $28 Million of NVDA Stock

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Nvidia (NASDAQ:NVDA) has been on a winning streak since it reported stellar Q1 earnings. Shares have surged more than 30% over the past month, briefly taking the chip maker past a trillion-dollar market capitalization. Though it has since dipped back below that line, NVDA stock remains highly elevated as experts ponder just how high it can go.

As it soars, some company insiders have seized the opportunity to take profits. This includes Harvey C. Jones, a noted tech sector executive who serves on the Nvidia board of directors. Recently, he offloaded a portion of his shares, walking away with a profit of roughly $28 million.

What’s Happening With NVDA Stock

It is important to note that while Jones has sold a portion of his Nvidia holdings, that doesn’t mean he has given up on the company. On the contrary, he still holds the majority of his stake. According to a Securities and Exchange Commission (SEC) Form 4 Filing, he sold 70,205 shares of common stock priced at $405 each while still holding 796,191 shares. The filing also indicates that the date of transaction for the trade is June 2, 2023.

News of the sale hasn’t impacted NVDA stock significantly, which, while down a little today, is still about flat for the week. While it has been fairly volatile, this can be attributed to negative market momentum. Through it all, Nvidia has still managed to stay well in the green for the month.

Jones isn’t the only Nvidia board member to sell some shares since Nvidia’s recent headway. Fellow director Persis Drell recently offloaded 7,800 shares. As with Jones, her sale did not impact NVDA stock. This trend suggests that company insiders are simply recognizing that this is an ideal time to take profits from Nvidia, but they still believe it has room to run. This is in line with some recent advice from InvestorPlace contributor Chris MacDonald who advised investors to collect some of their gains from NVDA stock now before the stock dips again.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/nvidia-director-harvey-jones-just-sold-28-million-of-nvda-stock/.

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