Traders Sell NVIDIA Corporation (NVDA) on Strength (NVDA)

Investors sold shares of NVIDIA Corporation (NASDAQ:NVDA) on strength during trading on Wednesday. $713.26 million flowed into the stock on the tick-up and $775.62 million flowed out of the stock on the tick-down, for a money net flow of $62.36 million out of the stock. Of all stocks tracked, NVIDIA Corporation had the 5th highest net out-flow for the day. NVIDIA Corporation traded up $0.39 for the day and closed at $207.20

Several equities analysts have commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $230.00 price target (up from $220.00) on shares of NVIDIA Corporation in a research note on Monday. Vetr upgraded shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $203.56 price target on the stock in a research note on Wednesday, October 25th. Jefferies Group LLC increased their price target on shares of NVIDIA Corporation from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Mizuho reiterated a “positive” rating and issued a $220.00 price target (up from $180.00) on shares of NVIDIA Corporation in a research note on Monday, October 16th. Finally, Needham & Company LLC increased their price target on shares of NVIDIA Corporation from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA Corporation presently has an average rating of “Hold” and an average price target of $162.12.

NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $0.53 earnings per share. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year.

In other news, Director Mark L. Perry sold 16,281 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $162.24, for a total transaction of $2,641,429.44. Following the completion of the sale, the director now directly owns 48,069 shares of the company’s stock, valued at $7,798,714.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Byron sold 409 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the sale, the insider now directly owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 452,784 shares of company stock valued at $81,437,724. 5.17% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in NVIDIA Corporation by 5,424.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after acquiring an additional 4,022,728 shares in the last quarter. Vanguard Group Inc. lifted its stake in NVIDIA Corporation by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock worth $5,819,579,000 after acquiring an additional 2,676,976 shares in the last quarter. Jackson Square Partners LLC purchased a new stake in NVIDIA Corporation in the 2nd quarter worth about $229,323,000. Winslow Capital Management LLC purchased a new stake in NVIDIA Corporation in the 1st quarter worth about $126,231,000. Finally, Renaissance Technologies LLC lifted its stake in NVIDIA Corporation by 28.9% in the 1st quarter. Renaissance Technologies LLC now owns 3,990,593 shares of the computer hardware maker’s stock worth $434,695,000 after acquiring an additional 895,893 shares in the last quarter. 65.59% of the stock is owned by institutional investors and hedge funds.

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About NVIDIA Corporation

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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