Traders Buy Nvidia Corp. (NVDA) on Weakness on Insider Selling
Traders bought shares of Nvidia Corp. (NASDAQ:NVDA) on weakness during trading on Friday after an insider sold shares in the company. $108.75 million flowed into the stock on the tick-up and $76.51 million flowed out of the stock on the tick-down, for a money net flow of $32.24 million into the stock. Of all companies tracked, Nvidia Corp. had the 27th highest net in-flow for the day. Nvidia Corp. traded down ($0.49) for the day and closed at $66.85Specifically, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. Following the sale, the director now directly owns 6,213 shares of the company’s stock, valued at approximately $388,436.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 37,804 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $68.60, for a total value of $2,593,354.40. Following the sale, the chief financial officer now directly owns 444,812 shares in the company, valued at $30,514,103.20. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Several research firms have recently issued reports on NVDA. B. Riley reissued a “buy” rating and set a $58.00 target price on shares of Nvidia Corp. in a report on Monday, July 11th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Nvidia Corp. in a research note on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $58.60.
The stock’s 50-day moving average is $63.73 and its 200 day moving average is $49.91. The company has a market cap of $35.76 billion, a P/E ratio of 43.92 and a beta of 1.25.
Nvidia Corp. (NASDAQ:NVDA) last issued its 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 company earned $1.43 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. Equities analysts forecast that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio (DPR) is currently 30.26%.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Nvidia Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 47,688,150 shares of the computer hardware maker’s stock valued at $2,241,821,000 after buying an additional 601,606 shares during the period. Primecap Management Co. CA boosted its stake in Nvidia Corp. by 0.5% in the first quarter. Primecap Management Co. CA now owns 29,210,850 shares of the computer hardware maker’s stock valued at $1,040,783,000 after buying an additional 143,175 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Nvidia Corp. by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,986,585 shares of the computer hardware maker’s stock valued at $798,539,000 after buying an additional 152,220 shares during the period. Jennison Associates LLC boosted its stake in Nvidia Corp. by 568.9% in the second quarter. Jennison Associates LLC now owns 9,402,566 shares of the computer hardware maker’s stock valued at $442,015,000 after buying an additional 7,996,913 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Nvidia Corp. by 3.1% in the second quarter. Baillie Gifford & Co. now owns 5,301,449 shares of the computer hardware maker’s stock valued at $249,221,000 after buying an additional 160,043 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.
About Nvidia Corp.
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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