Investors Buy NVIDIA (NVDA) on Weakness Following Insider Selling
Traders bought shares of NVIDIA Co. (NASDAQ:NVDA) on weakness during trading hours on Wednesday following insider selling activity. $448.02 million flowed into the stock on the tick-up and $427.84 million flowed out of the stock on the tick-down, for a money net flow of $20.18 million into the stock. Of all stocks tracked, NVIDIA had the 26th highest net in-flow for the day. NVIDIA traded down ($1.49) for the day and closed at $266.92Specifically, CFO Colette Kress sold 11,576 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the completion of the sale, the chief financial officer now owns 297,482 shares of the company’s stock, valued at approximately $79,222,431.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Byron sold 11,257 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the sale, the insider now directly owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. Insiders have sold a total of 22,876 shares of company stock valued at $6,066,024 in the last three months. 4.70% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on NVDA shares. UBS Group raised shares of NVIDIA from a “market perform” rating to an “outperform” rating in a research report on Friday, August 17th. Benchmark started coverage on shares of NVIDIA in a research report on Tuesday, June 26th. They set a “buy” rating and a $280.00 price target for the company. BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Oppenheimer raised shares of NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 price target for the company in a research report on Friday, August 17th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $250.00 price target (up previously from $243.00) on shares of NVIDIA in a research report on Friday, August 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $287.65.
The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $161.55 billion, a P/E ratio of 57.16, a PEG ratio of 3.48 and a beta of 1.62.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Thursday, August 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. NVIDIA’s payout ratio is 12.85%.
Several institutional investors have recently modified their holdings of the stock. Old Port Advisors bought a new position in shares of NVIDIA in the 2nd quarter worth about $557,000. Royal London Asset Management Ltd. bought a new position in shares of NVIDIA in the 2nd quarter worth about $57,692,000. Exane Asset Management bought a new position in shares of NVIDIA in the 2nd quarter worth about $165,000. Ashburton Jersey Ltd increased its stake in shares of NVIDIA by 214.3% in the 2nd quarter. Ashburton Jersey Ltd now owns 1,320 shares of the computer hardware maker’s stock worth $313,000 after acquiring an additional 900 shares in the last quarter. Finally, Sturgeon Ventures LLP increased its stake in shares of NVIDIA by 26.4% in the 2nd quarter. Sturgeon Ventures LLP now owns 50,224 shares of the computer hardware maker’s stock worth $11,907,000 after acquiring an additional 10,483 shares in the last quarter. Institutional investors own 65.64% of the company’s stock.
NVIDIA Company Profile (NASDAQ:NVDA)
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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