NVIDIA (NASDAQ:NVDA) Price Target Raised to $440.00 at The Goldman Sachs Group

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price boosted by The Goldman Sachs Group from $275.00 to $440.00 in a research report sent to investors on Thursday morning, The Fly reports.

Several other equities analysts have also recently issued reports on NVDA. Wells Fargo & Company upped their target price on shares of NVIDIA from $275.00 to $320.00 and gave the company an overweight rating in a research note on Wednesday, March 22nd. Cowen upped their target price on shares of NVIDIA from $240.00 to $260.00 in a research note on Thursday, February 23rd. Susquehanna restated a positive rating and set a $265.00 target price on shares of NVIDIA in a research note on Thursday, March 9th. Needham & Company LLC upped their target price on shares of NVIDIA from $270.00 to $300.00 in a research note on Thursday, March 23rd. Finally, Westpark Capital began coverage on shares of NVIDIA in a research note on Wednesday, March 22nd. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $375.13.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $379.80 on Thursday. The stock has a market cap of $939.29 billion, a price-to-earnings ratio of 197.81, a PEG ratio of 5.31 and a beta of 1.77. The firm’s 50-day moving average is $280.52 and its 200 day moving average is $218.29. NVIDIA has a 1 year low of $108.13 and a 1 year high of $394.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.52 and a quick ratio of 2.73.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. NVIDIA’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. Sell-side analysts anticipate that NVIDIA will post 3.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Colette Kress sold 6,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the sale, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Colette Kress sold 6,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the sale, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. Insiders sold a total of 54,084 shares of company stock worth $14,516,510 over the last three months. 3.99% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter worth $3,900,874,000. Moneta Group Investment Advisors LLC lifted its position in shares of NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of NVIDIA by 178,831.3% during the first quarter. Proficio Capital Partners LLC now owns 12,179,851 shares of the computer hardware maker’s stock worth $12,235,000 after purchasing an additional 12,173,044 shares during the last quarter. GQG Partners LLC bought a new stake in shares of NVIDIA during the first quarter worth $2,290,856,000. Finally, Jennison Associates LLC lifted its position in shares of NVIDIA by 34.8% during the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock worth $3,404,958,000 after purchasing an additional 6,013,647 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.