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

Shares of NVIDIA Co. (NASDAQ:NVDA) traded down 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 Analyst Weigh In

Several brokerages have recently weighed in on NVDA. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, UBS Group raised their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Stock Performance

The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 54.96, a PEG ratio of 1.75 and a beta of 1.62. The stock has a fifty day moving average price of $134.60 and a two-hundred day moving average price of $130.84. 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 released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC boosted its position in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp boosted its position in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.