Harvey Jones, who has been on the board since 1993, has unloaded more than $76 million worth of Nvidia shares so far this month.
A longtime board member at Nvidia Corp. dumped more than $48 million worth of the chip maker’s shares earlier this week, cashing in on the stock’s recent surge.
Harvey Jones, who has been on the Nvidia NVDA, -0.80% board since 1993, sold nearly 120,000 shares of the company Tuesday at prices between $400 and $408.51, according to a filing with the Securities and Exchange Commission made public Wednesday. He pocketed $48.3 million through the transaction, which took place with shares that he held in his living trust.
Jones, who is also the managing partner of private-investment entity Square Wave Ventures, holds 676,396 shares of Nvidia through the trust after Tuesday’s activity. He owns another 137,934 shares directly.
The latest transaction by Jones follows a move by the Nvidia director to unload 70,205 shares at an average price of $405 on June 2, according to a filing from earlier in the month. He made over $28 million through that earlier burst of selling.
Jones is reducing his Nvidia holdings as the stock has seen a massive run up so far this year, rising nearly 200% over that span. Nvidia recently became just the seventh U.S. public company to finish out a trading session with a market capitalization above $1 trillion, and it’s seen as a huge beneficiary of the growing fascination with artificial-intelligence technology.
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