Traders Buy NVIDIA (NVDA) on Weakness on Insider Selling

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Traders purchased shares of NVIDIA Co. (NASDAQ:NVDA) on weakness during trading on Monday following insider selling activity. $658.29 million flowed into the stock on the tick-up and $592.66 million flowed out of the stock on the tick-down, for a money net flow of $65.63 million into the stock. Of all stocks tracked, NVIDIA had the 10th highest net in-flow for the day. NVIDIA traded down ($0.17) for the day and closed at $265.09Specifically, EVP Ajay K. Puri sold 4,643 shares of the business’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $266.54, for a total transaction of $1,237,545.22. Following the completion of the transaction, the executive vice president now owns 295,635 shares of the company’s stock, valued at approximately $78,798,552.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 38,040 shares of the business’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $263.61, for a total value of $10,027,724.40. Following the transaction, the director now directly owns 159,287 shares of the company’s stock, valued at approximately $41,989,646.07. The disclosure for this sale can be found here. Insiders have sold a total of 244,609 shares of company stock valued at $61,860,200 in the last three months. 4.70% of the stock is owned by insiders.

NVDA has been the subject of a number of research analyst reports. Morgan Stanley raised NVIDIA from an “equal weight” rating to an “overweight” rating and set a $258.00 price target for the company in a report on Monday, April 9th. SunTrust Banks boosted their price objective on NVIDIA to $316.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. BidaskClub upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 19th. Argus boosted their price objective on NVIDIA from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, March 22nd. They noted that the move was a valuation call. Finally, Vetr upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $257.77 price objective on the stock in a research report on Monday, February 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $262.72.

The company has a quick ratio of 7.82, a current ratio of 8.54 and a debt-to-equity ratio of 0.26. The stock has a market cap of $161.01 billion, a P/E ratio of 56.76, a PEG ratio of 3.66 and a beta of 1.54.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 EPS for the quarter, beating the consensus estimate of $1.47 by $0.58. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 65.6% compared to the same quarter last year. equities analysts forecast that NVIDIA Co. will post 7.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 24th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 23rd. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. NVIDIA’s payout ratio is 12.85%.

Institutional investors have recently made changes to their positions in the stock. Stansberry Asset Management LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at about $2,171,000. Columbus Circle Investors acquired a new position in NVIDIA during the 1st quarter worth approximately $27,868,000. Municipal Employees Retirement System of Michigan raised its stake in NVIDIA by 1.1% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 31,040 shares of the computer hardware maker’s stock worth $7,189,000 after buying an additional 350 shares during the period. Capital Analysts LLC raised its stake in NVIDIA by 14,074.3% during the 4th quarter. Capital Analysts LLC now owns 38,129 shares of the computer hardware maker’s stock worth $3,722,000 after buying an additional 37,860 shares during the period. Finally, Resource Management LLC acquired a new position in NVIDIA during the 1st quarter worth approximately $290,000. Institutional investors own 65.01% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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