NVIDIA (NASDAQ:NVDA) Shares Gap Down After Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s stock price gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $124.30, but opened at $121.13. NVIDIA shares last traded at $122.67, with a volume of 23,464,068 shares changing hands.

Specifically, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawn E. Hudson sold 150,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the transaction, the director now owns 555,000 shares of the company’s stock, valued at $58,785,600. The disclosure for this sale can be found here. Insiders sold a total of 2,106,590 shares of company stock worth $354,056,104 in the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVDA shares. DZ Bank lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price for the company. in a report on Friday, May 24th. Stifel Nicolaus upped their target price on shares of NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a report on Monday, May 20th. Bank of America upped their target price on shares of NVIDIA from $132.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Mizuho upped their target price on shares of NVIDIA from $118.00 to $127.50 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Raymond James upped their target price on shares of NVIDIA from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.34.

NVIDIA Trading Up 4.6 %

The company’s fifty day moving average is $107.95 and its two-hundred day moving average is $84.78. The stock has a market cap of $3.16 trillion, a price-to-earnings ratio of 75.02, a PEG ratio of 1.29 and a beta of 1.68. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.09 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.31%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Institutional Trading of NVIDIA

Several hedge funds have recently added to or reduced their stakes in NVDA. Hamilton Wealth LLC increased its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Brooklyn FI LLC increased its stake in NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC increased its stake in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC increased its stake in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co increased its stake in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.