Shares of NVIDIA Co. (NASDAQ:NVDA) were up 9.4% during mid-day trading on Tuesday . The company traded as high as $203.40 and last traded at $203.00. Approximately 19,397,385 shares were traded during trading, an increase of 51% from the average daily volume of 12,882,442 shares. The stock had previously closed at $185.62.
A number of analysts have recently issued reports on NVDA shares. Argus reaffirmed a “buy” rating and set a $300.00 target price on shares of NVIDIA in a research report on Friday, October 12th. Goldman Sachs Group raised 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 research report on Thursday, October 18th. Evercore ISI lifted their target price on NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. BidaskClub lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. Eleven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $290.21.
The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. The company has a market cap of $120.56 billion, a P/E ratio of 43.47, a P/E/G ratio of 2.60 and a beta of 1.64.
In other NVIDIA news, insider Michael Byron sold 11,257 shares of NVIDIA stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the transaction, the insider now directly owns 81,414 shares in the company, valued at $21,488,411.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 90,831 shares of NVIDIA stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the transaction, the executive vice president now owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of NVDA. Principal Financial Group Inc. boosted its position in shares of NVIDIA by 5.6% during the first quarter. Principal Financial Group Inc. now owns 1,003,742 shares of the computer hardware maker’s stock worth $232,456,000 after buying an additional 53,672 shares during the period. Brown Advisory Inc. boosted its position in shares of NVIDIA by 152.5% during the first quarter. Brown Advisory Inc. now owns 7,473 shares of the computer hardware maker’s stock worth $1,730,000 after buying an additional 4,513 shares during the period. Cito Capital Group LLC acquired a new position in shares of NVIDIA during the second quarter worth approximately $711,000. New England Research & Management Inc. acquired a new position in shares of NVIDIA during the second quarter worth approximately $200,000. Finally, CenturyLink Investment Management Co acquired a new position in shares of NVIDIA during the second quarter worth approximately $693,000. Institutional investors own 65.80% of the company’s stock.
About NVIDIA (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: Price to Earnings Ratio (PE) Basics
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