Investors purchased shares of NVIDIA Co. (NASDAQ:NVDA) on weakness during trading hours on Friday after Morgan Stanley lowered their price target on the stock from $273.00 to $260.00. $626.26 million flowed into the stock on the tick-up and $544.89 million flowed out of the stock on the tick-down, for a money net flow of $81.37 million into the stock. Of all companies tracked, NVIDIA had the 19th highest net in-flow for the day. NVIDIA traded down ($0.32) for the day and closed at $205.67
Other equities analysts also recently issued research reports about the stock. Benchmark restated a “buy” rating and set a $310.00 price objective (up previously from $280.00) on shares of NVIDIA in a research report on Thursday, September 20th. Needham & Company LLC upped their price objective on shares of NVIDIA from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. BidaskClub downgraded shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Goldman Sachs Group upped their price objective on shares of NVIDIA from $310.00 to $324.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Bank of America upped their price objective on shares of NVIDIA from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Eleven 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 stock. NVIDIA presently has a consensus rating of “Buy” and an average target price of $289.82.
In related news, CFO Colette Kress sold 11,576 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $266.31, for a total value of $3,082,804.56. Following the sale, the chief financial officer now directly owns 297,482 shares of the company’s stock, valued at approximately $79,222,431.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 184,001 shares in the company, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,707 shares of company stock worth $32,347,973. Corporate insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Kwmg LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $105,000. Legacy Financial Advisors Inc. grew its stake in NVIDIA by 111.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after acquiring an additional 233 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter valued at about $124,000. Almanack Investment Partners LLC. acquired a new stake in NVIDIA in the 2nd quarter valued at about $127,000. Finally, Ropes Wealth Advisors LLC grew its stake in NVIDIA by 561.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after acquiring an additional 500 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.
The company has a market cap of $128.32 billion, a P/E ratio of 44.04, a PEG ratio of 2.77 and a beta of 2.01. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $3.11 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/11/10/traders-buy-nvidia-nvda-on-weakness-on-analyst-downgrade.html.
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.
Further Reading: How is a Moving Average Calculated?
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.