NVIDIA (NASDAQ:NVDA) Coverage Initiated at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group began coverage on shares of NVIDIA (NASDAQ:NVDA - Get Free Report) in a note issued to investors on Thursday, MarketBeat reports. The firm set a "buy" rating and a $185.00 price target on the computer hardware maker's stock. The Goldman Sachs Group's price objective indicates a potential upside of 11.77% from the stock's previous close.

A number of other research analysts have also recently weighed in on NVDA. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Stock Performance

Shares of NVDA traded up $1.41 during trading hours on Thursday, hitting $165.51. The stock had a trading volume of 145,757,210 shares, compared to its average volume of 266,241,285. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA has a 12 month low of $86.62 and a 12 month high of $167.84. The firm has a market capitalization of $4.04 trillion, a PE ratio of 53.40, a PEG ratio of 1.44 and a beta of 2.13. The stock has a fifty day moving average price of $140.52 and a 200 day moving average price of $128.60.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. NVIDIA's revenue was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,520,246 shares of company stock valued at $660,253,045. 4.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Pachira Investments Inc. lifted its holdings in NVIDIA by 1.0% in the second quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker's stock worth $1,019,000 after purchasing an additional 63 shares during the period. HFG Wealth Management LLC increased its position in shares of NVIDIA by 3.4% during the 2nd quarter. HFG Wealth Management LLC now owns 2,075 shares of the computer hardware maker's stock valued at $328,000 after purchasing an additional 68 shares during the period. Burkett Financial Services LLC increased its position in shares of NVIDIA by 1.3% during the 2nd quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker's stock valued at $861,000 after purchasing an additional 70 shares during the period. Guided Capital Wealth Management LLC increased its position in shares of NVIDIA by 0.3% during the 2nd quarter. Guided Capital Wealth Management LLC now owns 27,858 shares of the computer hardware maker's stock valued at $4,401,000 after purchasing an additional 70 shares during the period. Finally, Luts & Greenleigh Group Inc. increased its position in shares of NVIDIA by 0.4% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 19,894 shares of the computer hardware maker's stock valued at $3,143,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds 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.