Investors Sell Shares of Nvidia Corp. (NVDA) on Strength Following Insider Selling
Traders sold shares of Nvidia Corp. (NASDAQ:NVDA) on strength during trading on Thursday following insider selling activity. $109.05 million flowed into the stock on the tick-up and $173.72 million flowed out of the stock on the tick-down, for a money net flow of $64.67 million out of the stock. Of all equities tracked, Nvidia Corp. had the 0th highest net out-flow for the day. Nvidia Corp. traded up $0.62 for the day and closed at $67.40Specifically, Director Tench Coxe sold 48,000 shares of Nvidia Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $63.66, for a total value of $3,055,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jen Hsun Huang sold 43,727 shares of Nvidia Corp. stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $62.81, for a total transaction of $2,746,492.87. Following the completion of the sale, the insider now owns 1,827,279 shares of the company’s stock, valued at $114,771,393.99. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
NVDA has been the subject of a number of recent analyst reports. Wells Fargo & Co. cut shares of Nvidia Corp. from a “market perform” rating to an “underperform” rating and lifted their target price for the stock from $19.09 to $46.70 in a research note on Friday, July 15th. Vetr cut shares of Nvidia Corp. from a “hold” rating to a “sell” rating and set a $48.46 target price for the company. in a research note on Monday, July 11th. Pacific Crest reiterated a “hold” rating on shares of Nvidia Corp. in a research note on Friday, August 5th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Nvidia Corp. in a research note on Monday, August 29th. Finally, Summit Redstone initiated coverage on shares of Nvidia Corp. in a research note on Wednesday, August 31st. They issued a “buy” rating and a $68.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $58.32.
The stock has a market cap of $36.06 billion, a PE ratio of 44.28 and a beta of 1.26. The firm has a 50 day moving average price of $62.74 and a 200-day moving average price of $48.53.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. Nvidia Corp.’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. Equities research analysts predict that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s payout ratio is 30.26%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brick & Kyle Associates raised its position in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock valued at $118,000 after buying an additional 502 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock valued at $159,000 after buying an additional 1,415 shares during the last quarter. Aviance Capital Management LLC acquired a new position in Nvidia Corp. during the second quarter valued at $200,000. Stratos Wealth Partners LTD. acquired a new position in Nvidia Corp. during the second quarter valued at $201,000. Finally, Broderick Brian C acquired a new position in Nvidia Corp. during the second quarter valued at $209,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
Nvidia Corp. Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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