Nvidia's (NVDA) CEO Jensen Huang is making headlines after a significant sale of his company's stock. Over the past few months, Huang has cashed in about $713 million worth of Nvidia shares. This move comes as part of his plan to sell 6 million shares by March 2025 - a goal he's reached earlier than expected.
 

CEO Jensen Huang is done selling shares

Jensen Huang, the diligent CEO known for his iconic black leather jacket, has sold a substantial portion of his personal stake in Nvidia (NVDA). From June 14 to September 13, Huang completed the sale of six million shares of the chipmaker, earning a total of $713 million. Nvidia stock has surged by approximately 3,000% over the past five years, making Huang's payout all the more rewarding.

Huang has reached the maximum limit of 6 million shares he is allowed to sell under a prearranged plan implemented in March. This trading plan, known as a 10b5-1 plan, allows company insiders to trade a firm's stock according to a predetermined schedule, ensuring compliance with insider trading regulations.

Huang remains the company's largest Nvidia shareholder. According to an SEC filing from September 18th, the executive holds over 75 million worth of Nvidia common stock; that's aside from another 785 million held through various trusts and partnerships.
 

Nvidia stock closed 4% higher 

The average price of the stock sale is $118.93 a share — some shares were sold for as low as $91.72 and as high as $140.24. The chief exec now holds 75.4 million shares in his personal account, according to the Form 4 he filed with the Securities and Exchange Commission. More than that, he owns 786 million shares through various trusts and partnerships and his net worth is estimated to be $106 billion, according to the Bloomberg Billionaires Index.

The stock has rallied 150% year-to-date. Nvidia has become a Wall Street favorite in recent years, as that its semiconductor hardware has become a core component of the artificial intelligence boom.

Nvidia’s AI chip business is booming, its top customers include other big tech names, such as Microsoft, Meta, Alphabet, and Amazon.
 

Why Nvidia stock could soar much higher?

Phil Panaro — a former senior advisor at Boston Consulting Group who also served as CEO of a BCG subsidiary — says shares of the AI chipmaker will reach $800 by 2030. That implies another 545% upside for the stock, which traded around $122 a share mid-day Friday.

"Nvidia powers all of the accelerated computing, to make that happen, so they're going to have a major share of that," Panaro said in an interview with Schwab Network on Thursday. He later estimated that the firm's revenue could scale by a factor of 10, from $60 billion in the last fiscal year to $600 billion by 2030.

Panaro's prediction leans on the extreme end of forecasters, but Wall Street is generally feeling bullish about the chipmaker's stock, which has climbed 152% since the start of the year. Analysts have issued an average price target of $152 a share for the stock, according to Nasdaq data, implying around 25% upside from current levels.
 

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