Investors Buy Shares of NVIDIA Corporation (NVDA) on Weakness After Insider Selling
Investors bought shares of NVIDIA Corporation (NASDAQ:NVDA) on weakness during trading hours on Thursday following insider selling activity. $599.87 million flowed into the stock on the tick-up and $510.77 million flowed out of the stock on the tick-down, for a money net flow of $89.10 million into the stock. Of all stocks tracked, NVIDIA Corporation had the 2nd highest net in-flow for the day. NVIDIA Corporation traded down ($0.10) for the day and closed at $180.77Specifically, Director Tench Coxe sold 50,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $189.62, for a total transaction of $9,481,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. Following the sale, the director now directly owns 16,507 shares in the company, valued at $2,809,326.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 496,478 shares of company stock worth $85,901,012. 5.82% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA Corporation in a research note on Thursday, September 21st. Vetr lowered shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $187.73 price target on the stock. in a research note on Wednesday. Loop Capital raised their price target on shares of NVIDIA Corporation from $181.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $205.00 price target (up from $175.00) on shares of NVIDIA Corporation in a research note on Monday, September 18th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $200.00 price target (up from $140.00) on shares of NVIDIA Corporation in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $155.31.
The company’s 50-day moving average price is $171.24 and its 200-day moving average price is $144.60. The firm has a market cap of $108.46 billion, a P/E ratio of 51.99 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business earned $0.53 earnings per share. NVIDIA Corporation’s revenue was up 56.2% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Corporation will post $3.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is currently 15.86%.
Large investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp boosted its stake in shares of NVIDIA Corporation by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after purchasing an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its stake in shares of NVIDIA Corporation by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after purchasing an additional 1,000 shares in the last quarter. RB Capital Management LLC acquired a new stake in shares of NVIDIA Corporation during the second quarter valued at about $272,000. Oppenheimer Asset Management Inc. boosted its stake in shares of NVIDIA Corporation by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after purchasing an additional 2,836 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new stake in shares of NVIDIA Corporation during the second quarter valued at about $258,000. 65.79% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Investors Buy Shares of NVIDIA Corporation (NVDA) on Weakness After Insider Selling” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/05/investors-buy-shares-of-nvidia-corporation-nvda-on-weakness-after-insider-selling.html.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
Receive News & Stock Ratings for NVIDIA Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA Corporation and related stocks with our FREE daily email newsletter.