Investors Sell NVIDIA Corporation (NVDA) on Strength (NVDA)
Traders sold shares of NVIDIA Corporation (NASDAQ:NVDA) on strength during trading on Tuesday. $527.02 million flowed into the stock on the tick-up and $613.46 million flowed out of the stock on the tick-down, for a money net flow of $86.44 million out of the stock. Of all equities tracked, NVIDIA Corporation had the 0th highest net out-flow for the day. NVIDIA Corporation traded up $2.06 for the day and closed at $198.68
NVDA has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target for the company in a report on Tuesday, July 11th. Bank of America Corporation set a $210.00 price target on shares of NVIDIA Corporation and gave the stock a “buy” rating in a report on Thursday, October 12th. Canaccord Genuity reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA Corporation in a report on Friday, September 8th. Mizuho reiterated a “buy” rating and set a $170.00 price target (up from $145.00) on shares of NVIDIA Corporation in a report on Wednesday, June 28th. Finally, BidaskClub upgraded shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA Corporation has a consensus rating of “Hold” and a consensus target price of $161.85.
The company has a market cap of $116.40 billion, a PE ratio of 55.80 and a beta of 1.28. The firm’s 50 day moving average is $182.70 and its 200-day moving average is $153.95.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. NVIDIA Corporation’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities analysts expect that NVIDIA Corporation will post $3.63 earnings per share for the current year.
In related news, Director Mark L. Perry sold 16,281 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $162.24, for a total transaction of $2,641,429.44. Following the sale, the director now owns 48,069 shares of the company’s stock, valued at $7,798,714.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jen Hsun Huang sold 110,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 452,784 shares of company stock valued at $81,437,724. 5.17% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC raised its stake in NVIDIA Corporation 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. TB Alternative Assets Ltd. purchased a new stake in NVIDIA Corporation during the second quarter valued at $116,000. Thompson Davis & CO. Inc. raised its stake in NVIDIA Corporation 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. Proficio Capital Partners LLC raised its stake in NVIDIA Corporation by 186.1% during the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after purchasing an additional 547 shares in the last quarter. Finally, Hanson McClain Inc. raised its stake in NVIDIA Corporation 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. 65.77% of the stock is currently 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.
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