NVIDIA (NASDAQ:NVDA) Shares Up 5.4% – Time to Buy?

NVIDIA Co. (NASDAQ:NVDA) rose 5.4% during trading on Wednesday . The stock traded as high as $132.15 and last traded at $133.49. Approximately 73,981,956 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 259,921,906 shares. The stock had previously closed at $126.63.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVDA shares. Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Citigroup raised their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Truist Financial upped their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm’s 50 day moving average is $134.55 and its 200 day moving average is $131.89. The firm has a market cap of $3.21 trillion, a P/E ratio of 51.70, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,107,632 shares of company stock worth $146,405,286. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several large investors have recently bought and sold shares of the stock. Hoertkorn Richard Charles raised its stake in shares of NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its holdings in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after buying an additional 71 shares in the last quarter. Smart Portfolios LLC grew its stake in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC lifted its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank boosted its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About NVIDIA

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.