NVIDIA CAO Unloads $46,107 in 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, August 12th. The shares were sold at an average price of $18.85, for a total transaction of $46,107.10. Following the completion of the transaction, the chief accounting officer now directly owns 240,917 shares of the company’s stock, valued at approximately $4,541,285. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NVIDIA (NASDAQ:NVDA) traded up 0.58% on Wednesday, hitting $19.01. 6,414,874 shares of the company’s stock traded hands. NVIDIA has a 52 week low of $14.52 and a 52 week high of $19.73. The stock’s 50-day moving average is $18.46 and its 200-day moving average is $18.26. The company has a market cap of $10.612 billion and a price-to-earnings ratio of 20.70. NVIDIA also was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 47,782,574 shares, a growth of 12.6% from the July 15th total of 42,420,819 shares. Currently, 9.0% of the shares of the stock are sold short. Based on an average trading volume of 7,852,657 shares, the days-to-cover ratio is presently 6.1 days.
NVIDIA (NASDAQ:NVDA) last released its earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that NVIDIA will post $1.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 19th.
A number of research firms have recently commented on NVDA. Analysts at Roth Capital raised their price target on shares of NVIDIA from $22.00 to $24.00 in a research note on Friday, August 8th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $19.00 to $20.00 in a research note on Friday, August 8th. Finally, analysts at Deutsche Bank raised their price target on shares of NVIDIA from $16.00 to $17.00 in a research note on Friday, August 8th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. NVIDIA presently has an average rating of “Hold” and an average target price of $20.04.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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