NVIDIA (NASDAQ:NVDA) Shares Down 1.1% After Insider Selling

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 1.1% on Tuesday following insider selling activity. The stock traded as low as $118.92 and last traded at $120.06. Approximately 66,655,771 shares were traded during trading, a decline of 76% from the average daily volume of 280,654,656 shares. The stock had previously closed at $121.41.

Specifically, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVDA. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Susquehanna reissued a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. HSBC reduced their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Barclays upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Down 2.5 %

The firm has a market cap of $2.71 trillion, a price-to-earnings ratio of 43.85, a P/E/G ratio of 1.76 and a beta of 1.77. The company’s 50 day simple moving average is $126.01 and its 200 day simple moving average is $131.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth $43,515,504,000. International Assets Investment Management LLC increased its position in shares of NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after purchasing an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $4,589,905,000. Northern Trust Corp boosted its position in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC increased its position in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the period. Hedge funds and other institutional investors 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.