Investors purchased shares of Nvidia (NASDAQ:NVDA) on weakness during trading hours on Wednesday. $664.69 million flowed into the stock on the tick-up and $610.85 million flowed out of the stock on the tick-down, for a money net flow of $53.84 million into the stock. Of all stocks tracked, Nvidia had the 12th highest net in-flow for the day. Nvidia traded down ($1.17) for the day and closed at $236.37
NVDA has been the subject of several analyst reports. Vetr downgraded shares of Nvidia from a “hold” rating to a “sell” rating and set a $234.76 price target for the company. in a report on Monday, January 29th. Zacks Investment Research downgraded shares of Nvidia from a “strong-buy” rating to a “hold” rating in a report on Monday, January 15th. Argus raised their price target on shares of Nvidia from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, March 22nd. They noted that the move was a valuation call. BidaskClub raised shares of Nvidia from a “buy” rating to a “strong-buy” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $285.00 price target (up from $280.00) on shares of Nvidia in a report on Wednesday, March 14th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $217.16.
The stock has a market capitalization of $143,485.22, a P/E ratio of 49.04, a price-to-earnings-growth ratio of 3.79 and a beta of 1.51. The company has a current ratio of 8.03, a quick ratio of 7.34 and a debt-to-equity ratio of 0.27.
Nvidia (NASDAQ:NVDA) last issued its earnings results on Thursday, February 8th. The computer hardware maker reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.56. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Nvidia had a net margin of 31.36% and a return on equity of 45.02%. The firm’s revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. analysts expect that Nvidia will post 6.09 earnings per share for the current year.
In other Nvidia news, EVP Debora Shoquist sold 32,049 shares of the firm’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $239.45, for a total value of $7,674,133.05. Following the sale, the executive vice president now owns 201,796 shares of the company’s stock, valued at approximately $48,320,052.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Persis Drell sold 5,141 shares of the firm’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $220.73, for a total transaction of $1,134,772.93. Following the completion of the sale, the director now directly owns 20,963 shares in the company, valued at approximately $4,627,162.99. The disclosure for this sale can be found here. In the last three months, insiders sold 94,959 shares of company stock worth $22,692,182. Insiders own 4.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NVDA. KCS Wealth Advisory bought a new stake in Nvidia during the fourth quarter worth about $282,000. Stansberry Asset Management LLC purchased a new position in shares of Nvidia during the fourth quarter valued at approximately $2,171,000. Twin Capital Management Inc. raised its holdings in shares of Nvidia by 3.3% during the fourth quarter. Twin Capital Management Inc. now owns 97,530 shares of the computer hardware maker’s stock valued at $18,872,000 after purchasing an additional 3,110 shares during the last quarter. Toronto Dominion Bank increased its holdings in Nvidia by 14.6% during the fourth quarter. Toronto Dominion Bank now owns 260,784 shares of the computer hardware maker’s stock valued at $50,461,000 after buying an additional 33,300 shares during the last quarter. Finally, Ascension Asset Management LLC purchased a new stake in Nvidia during the fourth quarter valued at approximately $805,000. 66.70% of the stock is currently owned by institutional investors and hedge funds.
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Nvidia Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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