NVIDIA (NASDAQ:NVDA) Trading Down 1.5% After Insider Selling

Shares of NVIDIA Co. (NASDAQ:NVDA) were down 1.5% during mid-day trading on Friday following insider selling activity. The company traded as low as $115.42 and last traded at $116.72. Approximately 84,699,701 shares traded hands during trading, a decline of 73% from the average daily volume of 316,192,305 shares. The stock had previously closed at $118.53.

Specifically, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. In other NVIDIA news, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday. Finally, Susquehanna reissued a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Price Performance

The company has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $126.92 and a 200-day simple moving average of $131.18.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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. Equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently modified their holdings of NVDA. Prostatis Group LLC boosted its position in NVIDIA by 5.2% during the 4th quarter. Prostatis Group LLC now owns 26,004 shares of the computer hardware maker’s stock worth $3,492,000 after purchasing an additional 1,294 shares during the period. Fairtree Asset Management Pty Ltd bought a new stake in shares of NVIDIA in the 4th quarter worth about $639,000. M1 Capital Management LLC acquired a new stake in shares of NVIDIA during the 4th quarter valued at approximately $1,514,000. DSG Capital Advisors LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at about $17,052,000. Finally, Chancellor Financial Group WB LP acquired a new position in NVIDIA in the fourth quarter valued at approximately $3,966,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.