Donald F. Robertson Jr., chief accounting officer of NVIDIA Corp (NASDAQ:NVDA), has sold a significant portion of the company’s common stock. According to recent SEC filings, Robertson sold a total of $608,775 worth of stock. The sale was effected on December 13, 2024 pursuant to a pre-arranged 10b5-1 trading plan, with prices per share ranging from $133.345 to $138.782. The deal comes as NVIDIA maintains its status as a giant with a market capitalization of $3.36 trillion, with an impressive 177% return over the past year. According to InvestingPro, NVIDIA currently has an excellent financial health score, with over 20 additional insights available to subscribers.
Mr. Robertson’s trades included multiple sales of NVIDIA stock, with the largest sale being 1,994 shares at a weighted average price of $134.0985. Following these transactions, Robertson now directly owns 480,899 shares. The company’s stock currently trades at a P/E ratio of 52.35x, reflecting NVIDIA’s strong market position and growth potential.
Additionally, on December 11, 2024, Robertson disposed of 7,010 shares at a price of $135.07 per share to cover tax liability related to the vesting of restricted stock units. The transaction was valued at approximately $946,840. Based on InvestingPro’s fair value analysis, NVIDIA’s current stock price means the company is slightly overvalued, despite the company maintaining strong fundamentals with an impressive 76% gross margin. It suggests that
In other recent news, Broadcom (NASDAQ:) reported a massive 220% annual increase in AI revenue, sparking positive ripple effects across the semiconductor sector. analyst of morgan stanley (New York Stock Exchange:) and raymond (NS:) James acknowledged the solid results and predicted a potential $60-$90 billion opportunity in AI by 2027 for Broadcom. meanwhile, Nvidia Inc. . (NASDAQ:) denied rumors that it would reduce supply to the Chinese market, emphasizing its commitment to prioritizing customer needs.
As a further development, Mizuho (NYSE:) suggests that NVIDIA is well-positioned for an upward trajectory that could lead to a new all-time high in Q1 2025. This outlook is in line with broad analyst sentiment, with 34 analysts recently raising their earnings estimates. However, after the US Supreme Court decided not to hear Nvidia’s appeal, the company will face a lawsuit alleging that the company misled investors about its reliance on cryptocurrency mining sales.
Finally, the Magnificent Seven, a group of large technology companies that includes Nvidia, has a combined valuation of over $18 trillion. Nigel Green, CEO of DeVere Group, attributes the company’s success to a consistent track record of exceeding market expectations and believes these technology giants will maintain their market dominance until 2025. There is.
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