NVIDIA (NASDAQ:NVDA) Lowered to “Hold” Rating by Summit Insights

NVIDIA (NASDAQ:NVDA) was downgraded by stock analysts at Summit Insights from a “buy” rating to a “hold” rating in a report released on Thursday,Briefing.com Automated Import reports.

Several other equities analysts have also issued reports on NVDA. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, January 27th. Stifel Nicolaus increased their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Trading Up 3.7 %

Shares of NVIDIA stock opened at $131.28 on Thursday. 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 has a fifty day simple moving average of $134.60 and a 200-day simple moving average of $131.89. The stock has a market cap of $3.22 trillion, a price-to-earnings ratio of 51.66, a PEG ratio of 1.76 and a beta of 1.62. NVIDIA has a 12-month low of $75.61 and a 12-month high of $153.13.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s 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 position. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVDA. XY Planning Network Inc. purchased a new stake in shares of NVIDIA during the fourth quarter valued at $1,679,000. HWG Holdings LP grew its stake in NVIDIA by 45.1% during the 4th quarter. HWG Holdings LP now owns 89,672 shares of the computer hardware maker’s stock valued at $12,042,000 after acquiring an additional 27,852 shares in the last quarter. LifeWealth Investments LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at about $3,182,000. Capital A Wealth Management LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $1,226,000. Finally, Financial Advisory Corp acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $371,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.