NVIDIA (NASDAQ:NVDA) Trading Down 2.8% After Insider Selling
NVIDIA Co. (NASDAQ:NVDA – Get Free Report)’s stock price fell 2.8% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $114.54 and last traded at $116.16. 84,386,185 shares were traded during mid-day trading, a decline of 74% from the average session volume of 320,213,947 shares. The stock had previously closed at $119.53.
Specifically, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here.
Analysts Set New Price Targets
NVDA has been the subject of a number of recent analyst reports. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. The Goldman Sachs Group upped their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $171.76.
Read Our Latest Research Report on NVIDIA
NVIDIA Stock Performance
The stock has a 50-day moving average of $127.71 and a 200 day moving average of $131.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.
Hedge Funds Weigh In On NVIDIA
Several institutional investors have recently modified their holdings of the stock. Palisade Asset Management LLC lifted its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares in the last quarter. SMART Wealth LLC lifted its holdings in shares of NVIDIA by 289.5% during the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock valued at $9,711,000 after purchasing an additional 53,747 shares in the last quarter. Blue Square Asset Management LLC lifted its holdings in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Narwhal Capital Management lifted its holdings in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. lifted its holdings in shares of NVIDIA by 46.7% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock valued at $2,043,000 after purchasing an additional 5,360 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Company Profile
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
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