NVIDIA (NASDAQ:NVDA) Trading Down 4.1% After Insider Selling

Shares of NVIDIA Co. (NASDAQ:NVDA) were down 4.1% on Monday following insider selling activity. The stock traded as low as $121.22 and last traded at $121.33. Approximately 114,189,109 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 486,493,906 shares. The stock had previously closed at $126.57.

Specifically, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 100,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The disclosure for this sale can be found here. Insiders sold 1,636,590 shares of company stock worth $292,708,454 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. CICC Research assumed coverage on NVIDIA in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $87.00 target price on the stock. Cantor Fitzgerald increased their target price on NVIDIA from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Melius Research increased their target price on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI increased their target price on NVIDIA from $131.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Finally, Susquehanna raised their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Five analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $122.13.

NVIDIA Stock Performance

The firm’s 50 day simple moving average is $102.89 and its 200 day simple moving average is $81.54. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.91 trillion, a PE ratio of 69.07, a PEG ratio of 1.38 and a beta of 1.70.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s revenue was up 262.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a $0.10 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Tuesday, June 11th. NVIDIA’s dividend payout ratio is currently 2.34%.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA during the fourth quarter valued at approximately $28,000. Criterion Capital Advisors LLC purchased a new stake in NVIDIA during the fourth quarter valued at approximately $28,000. Finally, HBC Financial Services PLLC purchased a new stake in NVIDIA during the first quarter valued at approximately $30,000. 65.27% of the stock is currently owned by 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.