After recently selling nearly $100 million worth of Nvidia shares, Nvidia CEO Jensen Huang continued with his planned stock sales this week, selling 240,000 shares on Monday and Tuesday, cashing out approximately $29.31 million USD. Nvidia CFO Colette Kress also sold 200,000 shares, netting $24.40 million USD.
According to filings submitted to the U.S. Securities and Exchange Commission (SEC), Huang Renxun sold 240,000 Nvidia shares on the 24th and 25th at prices ranging from $118.63 to $126.19 per share.
Previously, Huang Renxun had sold a total of 720,000 shares between the 13th and 21st of this month, totaling $94.64 million USD.
Huang Renxun’s stock sales are part of a pre-arranged ‘10b5-1 trading plan’ adopted on March 14th, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. Many U.S. corporate executives use this mechanism to diversify their investment portfolios gradually.
Despite recent sales, Huang Renxun still holds a significant amount of Nvidia shares, including direct holdings and indirect holdings through various trusts and partnerships. According to Bloomberg data as of June 25th, he holds 86.61 million shares, representing 3.52% of outstanding shares. These recent sales transactions do not necessarily indicate a loss of confidence in the company’s future by the executives, but rather reflect typical personal financial planning.
In addition, Nvidia CFO Colette Kress also continued to sell Nvidia holdings, with filings showing she sold 200,000 Nvidia shares on the 24th and 25th, cashing out $24.40 million USD. Kress had previously sold 100,000 shares on the 21st.
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