NVIDIA (NASDAQ:NVDA) Trading Down 1% – Should You Sell?

NVIDIA Co. (NASDAQ:NVDA) fell 1% during mid-day trading on Thursday . The company traded as low as $136.79 and last traded at $137.84. 51,144,662 shares were traded during mid-day trading, a decline of 81% from the average session volume of 263,640,875 shares. The stock had previously closed at $139.23.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. TD Cowen boosted their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Melius Research upped their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Stock Down 4.1 %

The stock has a market capitalization of $3.29 trillion, a PE ratio of 52.87, a PEG ratio of 1.76 and a beta of 1.62. The firm’s fifty day moving average is $134.66 and its 200-day moving average is $131.14. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Large investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. grew its position in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Palisade Asset Management LLC boosted its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the last quarter. Blue Square Asset Management LLC boosted its position in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management boosted its position in NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after acquiring an additional 26,373 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

About NVIDIA

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.