NVIDIA (NASDAQ:NVDA) Trading Up 5.4% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA)’s stock price was up 5.4% during trading on Wednesday . The stock traded as high as $132.15 and last traded at $133.49. Approximately 73,981,956 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 259,921,906 shares. The stock had previously closed at $126.63.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Piper Sandler lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Barclays increased their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC boosted their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, HSBC dropped their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

NVIDIA Stock Up 3.7 %

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 company’s 50 day moving average price is $134.55 and its two-hundred day moving average price is $131.89. The stock has a market cap of $3.21 trillion, a P/E ratio of 51.70, a P/E/G ratio of 1.76 and a beta of 1.62.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the company. Sculati Wealth Management LLC increased its position in NVIDIA by 8.6% in the fourth quarter. Sculati Wealth Management LLC now owns 7,867 shares of the computer hardware maker’s stock worth $1,056,000 after buying an additional 621 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $8,252,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $6,677,000. Armis Advisers LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $4,216,000. Finally, Chokshi & Queen Wealth Advisors Inc purchased a new position in NVIDIA in the fourth quarter valued at about $11,222,000. 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.