NVIDIA (NASDAQ:NVDA) Trading 0.4% Higher – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 0.4% during trading on Wednesday . The company traded as high as $140.42 and last traded at $139.95. Approximately 57,217,217 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 266,839,813 shares. The stock had previously closed at $139.40.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research analyst reports. Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $170.00 to $220.00 in a research report on Tuesday, January 28th. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research note on Wednesday, January 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Stock Performance

The business has a fifty day simple moving average of $134.60 and a two-hundred day simple moving average of $130.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.44 trillion, a PE ratio of 55.33, a price-to-earnings-growth ratio of 1.75 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its stake in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp raised its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.