NVIDIA CAO Sells $45,545 in Stock (NVDA)
NVIDIA (NASDAQ:NVDA) CAO David M. Shannon sold 2,446 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $18.62, for a total value of $45,544.52. Following the completion of the transaction, the chief accounting officer now directly owns 240,917 shares in the company, valued at approximately $4,485,875. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of NVIDIA (NASDAQ:NVDA) traded up 1.13% during mid-day trading on Tuesday, hitting $18.75. The stock had a trading volume of 8,029,625 shares. NVIDIA has a 52 week low of $13.11 and a 52 week high of $19.73. The stock’s 50-day moving average is $18.79 and its 200-day moving average is $17.72. The company has a market cap of $10.462 billion and a price-to-earnings ratio of 21.76. NVIDIA also was the recipient of a significant decrease in short interest in June. As of June 13th, there was short interest totalling 50,079,140 shares, a decrease of 2.2% from the May 30th total of 51,199,157 shares. Based on an average daily volume of 5,579,985 shares, the days-to-cover ratio is currently 9.0 days. Currently, 9.5% of the shares of the company are short sold.
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. Analysts expect that NVIDIA will post $0.93 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Pacific Crest downgraded shares of NVIDIA from a “sector perform” rating to an “underperform” rating in a research note on Monday, June 23rd. Separately, analysts at Bank of America downgraded shares of NVIDIA from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 19th. 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. Finally, 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. Five investment 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 company presently has an average rating of “Hold” and an average price target of $18.98.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.