NVIDIA (NASDAQ:NVDA) Trading Down 2% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA) dropped 2% during mid-day trading on Monday following insider selling activity. The company traded as low as $119.37 and last traded at $119.24. Approximately 85,892,256 shares changed hands during trading, a decline of 73% from the average daily volume of 320,524,091 shares. The stock had previously closed at $121.67.

Specifically, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVDA. Citigroup upped their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Monday, February 24th. Mizuho decreased their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Bank of America boosted their price objective on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

The company has a 50-day moving average of $128.17 and a two-hundred day moving average of $131.21. 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 stock has a market capitalization of $2.82 trillion, a PE ratio of 45.43, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Institutional Trading of NVIDIA

Several institutional investors have recently made changes to their positions in the stock. Triton Wealth Management PLLC grew its position in NVIDIA by 4.6% during the fourth quarter. Triton Wealth Management PLLC now owns 51,074 shares of the computer hardware maker’s stock valued at $7,469,000 after acquiring an additional 2,259 shares during the period. 111 Capital acquired a new position in shares of NVIDIA in the 4th quarter valued at about $17,419,000. Thoma Capital Management LLC purchased a new stake in shares of NVIDIA during the 4th quarter worth about $1,558,000. Members Wealth LLC acquired a new stake in NVIDIA during the 4th quarter worth approximately $1,616,000. Finally, Tableaux LLC purchased a new position in NVIDIA in the fourth quarter valued at approximately $268,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.