NVIDIA (NASDAQ:NVDA) Stock Price Down 2.7% Following Insider Selling

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 2.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $891.23 and last traded at $900.96. Approximately 25,450,278 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 53,568,504 shares. The stock had previously closed at $925.61.

Specifically, Director Mark A. Stevens sold 36,000 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $546.95, for a total transaction of $19,690,200.00. Following the completion of the sale, the director now directly owns 1,134,583 shares of the company’s stock, valued at approximately $620,560,171.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $484.62, for a total value of $218,079.00. Following the completion of the sale, the insider now directly owns 50,961 shares of the company’s stock, valued at approximately $24,696,719.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $546.95, for a total value of $19,690,200.00. Following the completion of the sale, the director now directly owns 1,134,583 shares of the company’s stock, valued at $620,560,171.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,352 shares of company stock valued at $64,853,077. 3.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised their price target on NVIDIA from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Needham & Company LLC raised their price objective on NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. CICC Research initiated coverage on NVIDIA in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 price objective for the company. Wells Fargo & Company raised their price objective on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. raised their price objective on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $908.68.

NVIDIA Stock Up 0.1 %

The stock has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.71, a PEG ratio of 1.33 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $765.80 and a two-hundred day moving average of $571.71.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 265.3% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is currently 1.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Studio Investment Management LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Able Wealth Management LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $32,000. Finally, Peoples Financial Services CORP. acquired a new position in shares of NVIDIA during the third quarter worth about $30,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.