Insider Selling: NVIDIA CAO Sells 2,446 Shares of Stock (NVDA)
NVIDIA (NASDAQ:NVDA) CAO David M. Shannon sold 2,446 shares of NVIDIA stock on the open market in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $19.58, for a total transaction of $47,892.68. Following the sale, the chief accounting officer now directly owns 240,917 shares of the company’s stock, valued at approximately $4,717,155. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of NVIDIA (NASDAQ:NVDA) traded down 0.10% on Wednesday, hitting $19.59. The stock had a trading volume of 5,388,381 shares. NVIDIA has a 52-week low of $13.11 and a 52-week high of $19.73. The stock has a 50-day moving average of $18.7 and a 200-day moving average of $17.49. The company has a market cap of $10.931 billion and a price-to-earnings ratio of 23.02.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Analysts expect that NVIDIA will post $0.92 EPS for the current fiscal year.
A number of analysts have recently weighed in on NVDA shares. Analysts at Canaccord Genuity initiated coverage on shares of NVIDIA in a research note on Tuesday, June 10th. 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 research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. NVIDIA currently has an average rating of “Hold” and a consensus price target of $18.98.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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