Nvidia board member Mark Stevens sold approximately 1.37 million shares of the company on September 18 for about $300 million. This latest transaction adds to a massive wave of stock sales by Stevens, who previously sold Nvidia shares worth nearly $947 million over the past few weeks. According to a filing with the SEC, Stevens sold 1,366,000 shares through trusts at weighted average prices ranging from about $219.72 to $220.42 per share. He now holds approximately 27.53 million shares of Nvidia, which at current prices amounts to around $6.3 billion. Despite the recent sell-off, he remains one of the largest individual shareholders of the company.
According to SEC data, the amount of the latest sale was about $300 million, which is part of a series of large transactions completed over the past month. Previously, from late August to early September, Stevens realized shares worth about $411 million, followed by another approximately $236 million in subsequent sales. It is important to note that the transaction on September 18 was not executed under a pre-arranged trading plan under Rule 10b5-1, which allows corporate insiders to plan stock sales in advance, minimizing concerns about market timing.
Nvidia shares continue to see strong demand from investors, primarily due to increasing spending on artificial intelligence infrastructure. On September 22, shares closed at $228 after six consecutive sessions with an increase of about 8.6%. The total amount of insider stock sales at Nvidia over the past 12 months has already exceeded $2 billion, with no purchases recorded in the open market.
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