Nvidia Corp (NASDAQ:NVDA) director Tench Coxe has sold a significant portion of his holdings in the company, according to a recent SEC filing. The transactions, which took place on June 7, 2024, involved the sale of NVIDIA common stock totaling approximately $119.5 million.
The sales were executed in multiple transactions at varying prices. The weighted average prices for the shares sold ranged from $1,194.14 to $1,197.36. These transactions reduced Coxe's direct and indirect holdings in the semiconductor company, but the exact number of shares he still owns was not disclosed in the filing.
It is worth noting that the reported number of shares beneficially owned by Coxe following the transactions does not account for a 10-for-1 stock split that NVIDIA executed on the same day as the sales. This stock split would significantly increase the number of shares outstanding, thus altering the value of individual shares and the overall market capitalization of the company.
The shares sold by Coxe were held in various trusts, including one in which he is a trustee. Coxe has disclaimed beneficial ownership of these shares, except to the extent of his pecuniary interest in the trusts. Additionally, the SEC filing indicated a gift of shares with a total value of $0, which did not affect the total dollar amount of the sales.
Investors often watch insider transactions, such as those made by Coxe, for insights into executive sentiment about the company’s prospects. However, it's important to note that these transactions can be subject to various personal financial planning strategies and do not necessarily reflect a direct assessment of the company's future performance.
NVIDIA, headquartered in Santa Clara, California, is a leading player in the semiconductor industry, known for its graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SOCs) for the mobile computing and automotive market.
In other recent news, NVIDIA Corporation (NASDAQ:NVDA) has seen a flurry of adjustments to its share price targets following its 10-for-1 stock split. TD Cowen has raised the price target to $140, while Susquehanna has increased its target to $1,450. Cantor Fitzgerald and Barclays have set new targets at $140 and $145, respectively. These changes reflect confidence in NVIDIA's continued growth, particularly in the datacenter sector. The stock split has been factored into the firm's financial models, ensuring that their projections remain relevant and up-to-date.
Recently, NVIDIA has been the subject of discussions regarding its potential inclusion in the Dow Jones Industrial Average. This follows the company's stock split, which has increased the number of outstanding shares. However, no official comments have been made by the S&P Dow Jones Indices regarding potential changes to the index's composition.
NVIDIA is also under scrutiny from the US Department of Justice and the Federal Trade Commission, which are focusing on the AI industry. This could potentially lead to investigations into NVIDIA's business practices. Despite this, the company continues to be viewed favorably by analysts, with significant short bets against NVIDIA reaching approximately $34 billion, according to S3 Partners.
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Nvidia Corp (NASDAQ:NVDA) has been making notable strides in the semiconductor industry, and recent data from InvestingPro underlines the company's robust financial performance and market sentiment. With a towering market capitalization of $3 trillion and a staggering revenue growth of 208.27% in the last twelve months as of Q1 2025, NVIDIA's financial health appears solid. The company's gross profit margin stands impressively at 75.29%, reflecting its ability to maintain profitability amidst competitive market pressures.
InvestingPro Tips highlight that NVIDIA has a perfect Piotroski Score of 9, indicating strong financial health and hinting at potential for continued performance. Moreover, the company is a prominent player in its industry and has maintained dividend payments for 13 consecutive years, showcasing its commitment to shareholder returns. For investors looking to delve deeper into NVIDIA's prospects, there are 23 additional InvestingPro Tips available, offering a comprehensive analysis of the company’s financials and market position.
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