Traders Buy Shares of NVIDIA (NVDA) on Weakness

Traders bought shares of NVIDIA Co. (NASDAQ:NVDA) on weakness during trading on Friday. $724.32 million flowed into the stock on the tick-up and $582.61 million flowed out of the stock on the tick-down, for a money net flow of $141.71 million into the stock. Of all companies tracked, NVIDIA had the 7th highest net in-flow for the day. NVIDIA traded down ($3.19) for the day and closed at $214.92

NVDA has been the subject of several recent analyst reports. Argus reaffirmed a “buy” rating and issued a $300.00 target price on shares of NVIDIA in a report on Friday, October 12th. Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating and dropped their target price for the stock from $324.00 to $305.00 in a report on Thursday, October 18th. Evercore ISI upped their target price on shares of NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. BidaskClub downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. Eleven research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $290.21.

The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $123.42 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 2.66 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. On average, analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current year.

In other news, EVP Ajay K. Puri sold 90,831 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the transaction, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the transaction, the insider now directly owns 81,414 shares in the company, valued at $21,488,411.16. The disclosure for this sale can be found here. Insiders sold a total of 113,707 shares of company stock worth $32,347,973 over the last three months. 4.70% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Gamco Investors INC. ET AL increased its position in shares of NVIDIA by 92.8% during the third quarter. Gamco Investors INC. ET AL now owns 12,922 shares of the computer hardware maker’s stock worth $3,631,000 after acquiring an additional 6,220 shares during the period. Bbva Compass Bancshares Inc. increased its position in shares of NVIDIA by 70.7% during the third quarter. Bbva Compass Bancshares Inc. now owns 5,245 shares of the computer hardware maker’s stock worth $1,474,000 after acquiring an additional 2,172 shares during the period. CIBC Asset Management Inc increased its position in shares of NVIDIA by 1.9% during the third quarter. CIBC Asset Management Inc now owns 108,627 shares of the computer hardware maker’s stock worth $30,526,000 after acquiring an additional 2,034 shares during the period. HL Financial Services LLC increased its position in shares of NVIDIA by 7.3% during the third quarter. HL Financial Services LLC now owns 31,108 shares of the computer hardware maker’s stock worth $8,742,000 after acquiring an additional 2,111 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of NVIDIA by 69.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 142,500 shares of the computer hardware maker’s stock valued at $40,045,000 after purchasing an additional 58,448 shares in the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Company Profile (NASDAQ:NVDA)

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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