Investors Sell NVIDIA Corporation (NVDA) on Strength (NVDA)

Traders sold shares of NVIDIA Corporation (NASDAQ:NVDA) on strength during trading hours on Friday. $577.21 million flowed into the stock on the tick-up and $638.46 million flowed out of the stock on the tick-down, for a money net flow of $61.25 million out of the stock. Of all companies tracked, NVIDIA Corporation had the 9th highest net out-flow for the day. NVIDIA Corporation traded up $2.65 for the day and closed at $164.39

NVDA has been the subject of a number of research reports. Vetr upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $174.03 price target for the company in a research note on Monday, June 12th. Zacks Investment Research upgraded NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target for the company in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $130.00 target price on shares of NVIDIA Corporation in a research note on Friday, April 14th. Canaccord Genuity restated a “buy” rating on shares of NVIDIA Corporation in a research note on Saturday, June 3rd. Finally, Mizuho restated a “buy” rating and issued a $170.00 target price (up from $145.00) on shares of NVIDIA Corporation in a research note on Wednesday, June 28th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $136.24.

The firm has a 50-day moving average price of $156.80 and a 200-day moving average price of $124.22. The stock has a market capitalization of $102.55 billion, a PE ratio of 57.85 and a beta of 1.24.

NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 48.7% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Corporation will post $3.10 earnings per share for the current year.

In other news, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $129.48, for a total value of $6,474,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of NVIDIA Corporation stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $150.29, for a total transaction of $15,029,000.00. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $4,623,220.98. The disclosure for this sale can be found here. In the last three months, insiders sold 622,282 shares of company stock valued at $93,304,082. Insiders own 5.17% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NVIDIA Corporation by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock valued at $4,093,612,000 after buying an additional 2,597,209 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of NVIDIA Corporation during the first quarter valued at $126,231,000. Finally, WINTON GROUP Ltd boosted its stake in shares of NVIDIA Corporation by 290.5% in the first quarter. WINTON GROUP Ltd now owns 1,552,770 shares of the computer hardware maker’s stock valued at $106,396,000 after buying an additional 1,155,115 shares during the period. 68.91% of the stock is owned by institutional investors.

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About NVIDIA Corporation

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.