NVIDIA (NASDAQ:NVDA) Trading 1.3% Higher After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA) rose 1.3% during trading on Tuesday after Truist Financial raised their price target on the stock from $140.00 to $145.00. Truist Financial currently has a buy rating on the stock. NVIDIA traded as high as $128.31 and last traded at $128.08. Approximately 119,497,572 shares traded hands during trading, a decline of 73% from the average daily volume of 443,459,500 shares. The stock had previously closed at $126.46.

NVDA has been the topic of several other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Cantor Fitzgerald boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Sanford C. Bernstein increased their price objective on NVIDIA from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, Mizuho boosted their target price on shares of NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 99,390 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $113.02, for a total value of $11,232,759.63. Following the transaction, the director now owns 10,251,940 shares in the company, valued at $1,158,643,502.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the transaction, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 99,390 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $113.02, for a total value of $11,232,759.63. Following the transaction, the director now owns 10,251,940 shares of the company’s stock, valued at approximately $1,158,643,502.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,120,723 shares of company stock worth $610,405,941. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. International Assets Investment Management LLC grew its position in NVIDIA by 9.3% during the 4th quarter. International Assets Investment Management LLC now owns 34,059 shares of the computer hardware maker’s stock worth $16,867,000 after acquiring an additional 2,893 shares during the last quarter. Tennessee Valley Asset Management Partners increased its stake in shares of NVIDIA by 1.1% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 2,476 shares of the computer hardware maker’s stock worth $1,226,000 after acquiring an additional 27 shares in the last quarter. Cora Capital Advisors LLC grew its stake in shares of NVIDIA by 6.5% in the fourth quarter. Cora Capital Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $414,000 after acquiring an additional 51 shares during the last quarter. Calamos Wealth Management LLC lifted its stake in shares of NVIDIA by 1.3% in the fourth quarter. Calamos Wealth Management LLC now owns 77,244 shares of the computer hardware maker’s stock worth $38,253,000 after buying an additional 1,014 shares in the last quarter. Finally, CRA Financial Services LLC raised its position in NVIDIA by 1.2% in the 4th quarter. CRA Financial Services LLC now owns 9,559 shares of the computer hardware maker’s stock worth $4,734,000 after buying an additional 110 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

The stock has a market capitalization of $3.16 trillion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The business’s 50 day moving average price is $120.86 and its 200 day moving average price is $102.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

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.