NVIDIA (NASDAQ:NVDA) Trading Up 2.8% - Time to Buy?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price rose 2.8% during mid-day trading on Tuesday . The stock traded as high as $135.56 and last traded at $135.00. Approximately 71,910,731 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 288,085,023 shares. The stock had previously closed at $131.29.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVDA. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Summit Insights cut NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Raymond James reissued a "strong-buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. Barclays dropped their target price on NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley reiterated a "hold" rating on shares of NVIDIA in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average price target of $167.53.

NVIDIA Stock Down 0.1%

The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $114.51 and a 200-day simple moving average of $126.60. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.25, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Regent Peak Wealth Advisors LLC lifted its holdings in NVIDIA by 0.4% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker's stock valued at $10,989,000 after acquiring an additional 322 shares during the last quarter. Wealth Group Ltd. grew its holdings in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares during the last quarter. Czech National Bank boosted its stake in shares of NVIDIA by 6.1% during the fourth quarter. Czech National Bank now owns 5,316,840 shares of the computer hardware maker's stock worth $713,998,000 after buying an additional 305,153 shares during the period. Aprio Wealth Management LLC boosted its holdings in NVIDIA by 14.0% in the 4th quarter. Aprio Wealth Management LLC now owns 26,549 shares of the computer hardware maker's stock valued at $3,565,000 after purchasing an additional 3,264 shares in the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $155,000. 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.