Insider Selling: Nvidia Corp. (NVDA) Director Sells $157,195.38 in Stock
Nvidia Corp. (NASDAQ:NVDA) Director Persis Drell sold 2,361 shares of Nvidia Corp. stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $66.58, for a total value of $157,195.38. Following the completion of the transaction, the director now directly owns 27,152 shares in the company, valued at $1,807,780.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Nvidia Corp. (NASDAQ:NVDA) opened at 66.61 on Wednesday. The stock has a market cap of $35.64 billion, a PE ratio of 43.76 and a beta of 1.25. The stock’s 50 day moving average price is $64.58 and its 200-day moving average price is $51.70. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $69.70.
Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. The company earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Landscape Capital Management L.L.C. raised its position in Nvidia Corp. by 92.1% in the first quarter. Landscape Capital Management L.L.C. now owns 27,810 shares of the computer hardware maker’s stock worth $991,000 after buying an additional 13,330 shares during the period. AMF Pensionsforsakring AB bought a new position in Nvidia Corp. during the first quarter worth $1,924,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Nvidia Corp. during the first quarter worth $496,000. Canada Pension Plan Investment Board raised its position in Nvidia Corp. by 1.8% in the first quarter. Canada Pension Plan Investment Board now owns 662,894 shares of the computer hardware maker’s stock worth $23,619,000 after buying an additional 11,600 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in Nvidia Corp. by 48.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 36,100 shares of the computer hardware maker’s stock worth $1,286,000 after buying an additional 11,800 shares during the period. 86.29% of the stock is owned by institutional investors.
NVDA has been the topic of a number of recent analyst reports. Bank of America Corp. reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Nvidia Corp. in a research note on Monday, October 3rd. Nomura reaffirmed a “buy” rating and issued a $62.50 price objective on shares of Nvidia Corp. in a research note on Monday, September 12th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Nvidia Corp. in a research note on Wednesday, August 31st. Vetr raised Nvidia Corp. from a “hold” rating to a “buy” rating and set a $67.35 price objective on the stock in a research note on Monday, September 5th. Finally, Wells Fargo & Co. reaffirmed an “underperform” rating on shares of Nvidia Corp. in a research note on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $58.45.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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