NVIDIA (NASDAQ:NVDA) Shares Down 0.7% - What's Next?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) traded down 0.7% during mid-day trading on Friday . The stock traded as low as $138.74 and last traded at $139.12. 59,422,539 shares changed hands during trading, a decline of 77% from the average session volume of 260,439,047 shares. The stock had previously closed at $140.11.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Loop Capital reissued a "buy" rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Piper Sandler increased their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Tigress Financial upgraded shares of NVIDIA from a "buy" rating to a "strong-buy" rating and increased their price target for the company from $170.00 to $220.00 in a report on Tuesday, January 28th. Finally, Evercore ISI boosted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.21.

NVIDIA Price Performance

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $134.66 and its 200-day moving average is $131.14. The stock has a market cap of $3.29 trillion, a PE ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 analysts' expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company's revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company's stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of the business's 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 sale, the director now directly owns 19,942 shares of the company's stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last three months. Corporate insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently added to or reduced their stakes in NVDA. University of Texas Texas AM Investment Management Co. raised its stake in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock worth $14,715,000 after acquiring an additional 107,169 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock valued at $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares during the period. Blue Square Asset Management LLC lifted its holdings in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock worth $5,840,000 after purchasing an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management boosted its position in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker's stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. 65.27% of the stock is currently owned by institutional investors.

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.