NVIDIA (NASDAQ:NVDA) Given New $472.00 Price Target at Jefferies Financial Group

NVIDIA (NASDAQ:NVDA – Get Rating) had its price objective lifted by Jefferies Financial Group from $300.00 to $472.00 in a research report released on Thursday, The Fly reports.

Several other research analysts have also issued reports on NVDA. The Goldman Sachs Group increased their price target on shares of NVIDIA from $275.00 to $440.00 in a research report on Thursday. Piper Sandler raised their price objective on shares of NVIDIA from $200.00 to $225.00 and gave the stock an overweight rating in a report on Wednesday, February 22nd. Wells Fargo & Company increased their price target on shares of NVIDIA from $320.00 to $450.00 in a research note on Thursday. Needham & Company LLC increased their price target on shares of NVIDIA from $270.00 to $300.00 in a research note on Thursday, March 23rd. Finally, Raymond James reissued a strong-buy rating and set a $290.00 price target on shares of NVIDIA in a research note on Thursday, March 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of Moderate Buy and a consensus price target of $375.13.

NVIDIA Stock Up 24.4 %

Shares of NVDA opened at $379.80 on Thursday. The company has a 50-day simple moving average of $280.52 and a 200-day simple moving average of $218.29. The firm has a market capitalization of $939.29 billion, a P/E ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. NVIDIA has a 52 week low of $108.13 and a 52 week high of $394.80.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the prior year, the business posted $1.18 earnings per share. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA will post 3.28 earnings per share for the current year.

Insider Activity

In related news, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the sale, the chief financial officer now owns 561,401 shares of the company’s stock, valued at approximately $128,723,635.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the sale, the chief financial officer now owns 561,401 shares of the company’s stock, valued at approximately $128,723,635.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. Insiders sold a total of 54,084 shares of company stock valued at $14,516,510 in the last quarter. Company insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Norges Bank acquired a new position in NVIDIA during the 4th quarter worth approximately $3,900,874,000. Moneta Group Investment Advisors LLC raised its holdings in NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after buying an additional 19,574,443 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of NVIDIA by 178,831.3% during the first quarter. Proficio Capital Partners LLC now owns 12,179,851 shares of the computer hardware maker’s stock valued at $12,235,000 after purchasing an additional 12,173,044 shares in the last quarter. GQG Partners LLC bought a new position in shares of NVIDIA during the first quarter valued at about $2,290,856,000. Finally, Jennison Associates LLC raised its position in NVIDIA by 34.8% in the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock worth $3,404,958,000 after acquiring an additional 6,013,647 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.