NVIDIA (NASDAQ:NVDA) Stock Price Down 4.1% on Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded down 4.1% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $106.60 and last traded at $107.02. 102,960,367 shares were traded during mid-day trading, a decline of 77% from the average session volume of 452,745,094 shares. The stock had previously closed at $111.59.

Specifically, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn E. Hudson sold 150,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the sale, the director now directly owns 555,000 shares of the company’s stock, valued at $58,785,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,840,723 shares of company stock worth $581,410,541. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group increased their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. Benchmark raised their price target on NVIDIA from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Stifel Nicolaus upped their price objective on shares of NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a report on Monday, May 20th. New Street Research lowered shares of NVIDIA from a “buy” rating to a “neutral” rating in a research report on Friday, July 5th. Finally, Cantor Fitzgerald boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.59.

NVIDIA Trading Down 6.1 %

The company has a 50 day moving average price of $120.97 and a two-hundred day moving average price of $94.60. The firm has a market capitalization of $2.58 trillion, a price-to-earnings ratio of 62.58, a P/E/G ratio of 1.19 and a beta of 1.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 262.1% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.53 EPS for the current year.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.38%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s payout ratio is presently 2.34%.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. 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.