NVIDIA (NASDAQ:NVDA) Trading Up 2.6% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s share price was up 2.6% on Monday . The company traded as high as $139.25 and last traded at $138.85. Approximately 194,776,546 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 291,045,696 shares. The stock had previously closed at $135.29.

Analysts Set New Price Targets

Several research firms have issued reports on NVDA. Wedbush increased their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Redburn Atlantic assumed coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Morgan Stanley dropped their target price on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Price Performance

The firm has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 54.79, a PEG ratio of 1.75 and a beta of 1.62. The company’s 50-day moving average is $134.60 and its 200-day moving average is $130.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company posted $0.38 EPS. The company’s revenue was up 93.6% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Ironwood Wealth Management LLC. raised its position in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter valued at $31,000. Firestone Capital Management acquired a new stake in NVIDIA in the second quarter valued at $270,000. Fairway Wealth LLC bought a new position in NVIDIA during the 2nd quarter valued at $247,000. Finally, Axxcess Wealth Management LLC grew its holdings in NVIDIA by 981.1% during the 2nd quarter. Axxcess Wealth Management LLC now owns 430,465 shares of the computer hardware maker’s stock worth $52,207,000 after acquiring an additional 390,648 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.