NVIDIA CAO Unloads $47,893 in Stock (NVDA)
NVIDIA (NASDAQ:NVDA) CAO David M. Shannon sold 2,446 shares of the company’s stock on the open market in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.58, for a total transaction of $47,892.68. Following the completion of the sale, the chief accounting officer now directly owns 240,917 shares of the company’s stock, valued at approximately $4,717,155. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on NVDA shares. Analysts at Bank of America downgraded shares of NVIDIA from a “neutral” rating to an “underperform” rating in a research note on Thursday. They now have a $19.00 price target on the stock, down previously from $19.12. They noted that the move was a valuation call. Separately, 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. Finally, 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. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.98.
Shares of NVIDIA (NASDAQ:NVDA) opened at 19.138 on Friday. NVIDIA has a one year low of $13.11 and a one year high of $19.73. The stock has a 50-day moving average of $18.75 and a 200-day moving average of $17.51. The company has a market cap of $10.678 billion and a P/E ratio of 22.99.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts predict that NVIDIA will post $0.92 earnings per share for the current fiscal year.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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