Nvidia (NVDA) stock is slipping on Wednesday morning following new SEC filings that revealed director Mark Stevens has further trimmed his stake in the artificial intelligence (AI) darling.
According to the regulatory filings, Stevens sold 1.366 million NVDA shares at weighted-average price of nearly $220 on Sept. 18, a transaction valued at roughly $300 million in total.
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At the time of writing, Nvidia is trading more than 20% above its price at the start of this year.
www.barchart.comWhy Stevens Unloaded Nvidia Stock
The filings also confirmed that Stevens has unloaded nearly $950 million worth of Nvidia shares in total since late August 2026.
Investors should note, however, that the director still has a huge stake in the chipmaker – retaining over 27.5 million of its shares worth more than $6 billion.
What this suggests is that his recent transactions were likely standard portfolio diversification and tax planning rather than a vote of no confidence in what the future holds for NVDA.
Barchart also currently holds a “100% BUY” opinion on Nvidia, reinforcing that technical momentum remains in its favor for the near term.
Should You Sell NVDA Shares Too?
While seeing an insider cash out nearly $1 billion in a single month can trigger alarm bells, retail investors are cautioned against following suit.
Why? Primarily because NVDA stock is backed by strong fundamentals, a dominant market share in AI-centric GPUs, and robust enterprise demand.
Last month, Nvidia posted a market-beating Q2 and issued bullish guidance for about 70% revenue growth in fiscal 2028, which makes its current P/E multiple of about 24x appear rather attractive.
The recent deal with Amazon (AMZN) involving 2 million GPUs and billions being spent on buybacks and dividend payments make NVDA an even more compelling long-term holding in 2026.
Wall Street’s View on Nvidia
Investors could also take heart in the fact that Wall Street remains bullish as ever on Nvidia stock for the remainder of this year.
The consensus rating on Nvidia sits at “Strong Buy,” with the mean price target of about $326 indicating the company’s share price rally is far from over yet.
www.barchart.com On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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