Traders Sell NVIDIA (NVDA) on Strength on Insider Selling

Investors sold shares of NVIDIA Corporation (NASDAQ:NVDA) on strength during trading on Friday following insider selling activity. $817.26 million flowed into the stock on the tick-up and $1,012.22 million flowed out of the stock on the tick-down, for a money net flow of $194.96 million out of the stock. Of all companies tracked, NVIDIA had the 6th highest net out-flow for the day. NVIDIA traded up $5.09 for the day and closed at $191.56Specifically, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $185.65, for a total value of $18,565,000.00. Following the completion of the sale, the director now owns 30,762 shares of the company’s stock, valued at approximately $5,710,965.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $189.62, for a total transaction of $9,481,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 315,346 shares of company stock valued at $59,459,812. 5.82% of the stock is owned by corporate insiders.

NVDA has been the subject of several research reports. Raymond James Financial upped their price target on shares of NVIDIA and gave the stock an “outperform” rating in a research report on Friday, November 10th. Bank of America set a $210.00 target price on shares of NVIDIA and gave the company a “buy” rating in a research report on Thursday, October 12th. Canaccord Genuity reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Friday, September 8th. Royal Bank of Canada increased their target price on shares of NVIDIA from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Goldman Sachs Group increased their target price on shares of NVIDIA from $193.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 11th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $187.38.

The firm has a market capitalization of $116,090.00, a P/E ratio of 45.86, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. analysts expect that NVIDIA Corporation will post 4.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.31%. The ex-dividend date is Wednesday, November 22nd. This is a positive change from NVIDIA’s previous quarterly dividend of $0.14. NVIDIA’s dividend payout ratio (DPR) is currently 15.00%.

A number of hedge funds have recently added to or reduced their stakes in NVDA. Welch Investments LLC purchased a new position in NVIDIA during the third quarter valued at $104,000. Evercore Wealth Management LLC lifted its holdings in NVIDIA by 36.9% during the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 206 shares in the last quarter. Thompson Davis & CO. Inc. lifted its holdings in NVIDIA by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after purchasing an additional 6 shares in the last quarter. Hanson McClain Inc. lifted its holdings in NVIDIA by 12.7% during the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after purchasing an additional 99 shares in the last quarter. Finally, Edge Advisors LLC lifted its holdings in NVIDIA by 98.8% during the third quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock valued at $149,000 after purchasing an additional 415 shares in the last quarter. Institutional investors own 63.51% of the company’s stock.

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About NVIDIA

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.

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