Insider Selling: NVIDIA CAO Sells 2,445 Shares of Stock (NVDA)
NVIDIA (NASDAQ:NVDA) CAO David M. Shannon sold 2,445 shares of the company’s stock on the open market in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $19.05, for a total transaction of $46,577.25. Following the completion of the sale, the chief accounting officer now directly owns 240,917 shares of the company’s stock, valued at approximately $4,589,469. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
NVDA has been the subject of a number of recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of NVIDIA in a research note on Tuesday. They set a “hold” rating and a $19.00 price target on the stock. Separately, analysts at ING Group upgraded shares of NVIDIA from a “strong sell” rating to a “sell” rating in a research note on Monday, May 19th. Finally, analysts at RBC Capital upgraded shares of NVIDIA from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $26.00 price target on the stock, up previously from $21.00. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.98.
NVIDIA (NASDAQ:NVDA) traded down 0.77% on Thursday, hitting $19.25. 668,310 shares of the company’s stock traded hands. NVIDIA has a 52 week low of $13.11 and a 52 week high of $19.46. The stock’s 50-day moving average is $18.64 and its 200-day moving average is $17.37. The company has a market cap of $10.741 billion and a price-to-earnings ratio of 22.77. NVIDIA also was the recipient of unusually large options trading activity on Tuesday. Investors purchased 4,381 put options on the company. This is an increase of 289% compared to the average volume of 1,127 put options.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.12. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.06 million. During the same quarter last year, the company posted $0.13 earnings per share. NVIDIA’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that NVIDIA will post $0.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Investors of record on Thursday, May 22nd will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 20th.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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