Nvidia Corp. (NVDA) Director Sells $2,541,600.00 in Stock
Nvidia Corp. (NASDAQ:NVDA) Director Tench Coxe sold 40,000 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $63.54, for a total value of $2,541,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Tench Coxe also recently made the following trade(s):
- On Monday, September 19th, Tench Coxe sold 48,000 shares of Nvidia Corp. stock. The shares were sold at an average price of $63.66, for a total value of $3,055,680.00.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 2.81% during mid-day trading on Wednesday, reaching $64.86. The company’s stock had a trading volume of 8,405,337 shares. The firm’s 50 day moving average price is $61.39 and its 200-day moving average price is $47.19. Nvidia Corp. has a 1-year low of $22.50 and a 1-year high of $65.26. The company has a market capitalization of $34.70 billion, a price-to-earnings ratio of 42.61 and a beta of 1.26.
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Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, analysts predict that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were issued a $0.115 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. Nvidia Corp.’s payout ratio is currently 30.26%.
Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its stake in Nvidia Corp. by 47.4% in the fourth quarter. Stifel Financial Corp now owns 132,132 shares of the computer hardware maker’s stock worth $10,048,000 after buying an additional 42,476 shares in the last quarter. Norges Bank purchased a new stake in Nvidia Corp. during the fourth quarter worth about $169,615,000. DnB Asset Management AS raised its stake in Nvidia Corp. by 124.2% in the first quarter. DnB Asset Management AS now owns 43,328 shares of the computer hardware maker’s stock worth $1,544,000 after buying an additional 24,000 shares in the last quarter. Quantitative Systematic Strategies LLC raised its stake in Nvidia Corp. by 116.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 23,544 shares of the computer hardware maker’s stock worth $842,000 after buying an additional 12,664 shares in the last quarter. Finally, Douglas Lane & Associates LLC purchased a new stake in Nvidia Corp. during the first quarter worth about $13,990,000. Institutional investors and hedge funds own 86.37% of the company’s stock.
A number of analysts have recently weighed in on NVDA shares. B. Riley reissued a “buy” rating and issued a $58.00 price objective on shares of Nvidia Corp. in a research report on Wednesday, June 22nd. MKM Partners reissued a “buy” rating and issued a $52.00 price objective (up previously from $43.00) on shares of Nvidia Corp. in a research report on Monday, June 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.20.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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