NVIDIA (NASDAQ:NVDA) Price Target Raised to $228.00

Key Points

• NVIDIA's price target increased: Truist Financial raised its price target for NVIDIA from $210.00 to $228.00, suggesting a potential upside of 25.55% from the current price.
• Positive ratings from analysts: Alongside Truist, other analysts have also raised their targets, with Barclays at $200.00, Morgan Stanley at $206.00, and UBS at $205.00, contributing to a consensus rating of "Moderate Buy."
• Insider trading activity: CEO Jen Hsun Huang recently sold 75,000 shares, while other executives also divested shares, totaling approximately $902.9 million in sales over the last quarter.

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective increased by analysts at Truist Financial from $210.00 to $228.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Truist Financial's price target suggests a potential upside of 25.55% from the company's current price.

Several other equities analysts have also issued reports on the stock. Barclays lifted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Morgan Stanley reaffirmed an "overweight" rating and issued a $206.00 target price (up from $200.00) on shares of NVIDIA in a research report on Monday, August 18th. UBS Group lifted their price target on shares of NVIDIA from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Finally, Bank of America upped their price target on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.11.

NVIDIA Stock Down 0.1%

Shares of NASDAQ:NVDA opened at $181.60 on Thursday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.43 trillion, a P/E ratio of 58.58, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA has a 12-month low of $86.62 and a 12-month high of $184.48. The stock's 50-day moving average price is $169.53 and its 200-day moving average price is $138.41.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%.The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. NVIDIA's revenue was up 69.2% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value 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 $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,912,440 shares of company stock valued at $902,886,782 over the last quarter. 4.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $28,000. Winnow Wealth LLC purchased a new position in NVIDIA during the second quarter worth about $32,000. Longfellow Investment Management Co. LLC grew its position in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker's stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Spurstone Advisory Services LLC purchased a new stake in NVIDIA in the 2nd quarter worth approximately $40,000. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.

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