Traders Buy Shares of Nvidia (NVDA) on Weakness

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.

How to Become a New Pot Stock Millionaire

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.

WARNING: This piece of content was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.thelincolnianonline.com/2018/04/20/traders-buy-shares-of-nvidia-nvda-on-weakness.html.

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.

Receive News & Ratings for Nvidia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nvidia and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply