NVIDIA Sees Institutional Buying Amid Insider Selling and Bullish Analyst Outlook
OneAscent Financial Services LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 3.2% during the second quarter, according to its latest SEC filing. The firm now holds 141,845 shares, valued at $28,382,000, making NVIDIA approximately 1.4% of its portfolio. Several other institutional investors also increased their positions in NVIDIA, including LightSquare Wealth Management LLC, Defender Capital LLC, Kooman & Associates, Roof Eidam Maycock Peralta LLC, and Persium Advisors LLC.
Despite the institutional buying, NVIDIA insiders have been selling shares. EVP Timothy S. Teter sold 30,460 shares on September 21st at an average price of $222.80, totaling $6,786,488. CFO Colette Kress sold 34,918 shares on September 17th at an average price of $219.05, amounting to $7,648,787.90. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans.
Analysts remain bullish on NVIDIA, with several raising their price targets. Raymond James Financial set a $515.00 target, while KGI Securities increased their target to $345.00. The stock has a consensus rating of "Buy" with a target price of $321.89. NVIDIA also announced a massive $150 billion share repurchase plan and a quarterly dividend of $0.25.
Positive sentiment surrounds NVIDIA due to strong AI demand. Foxconn reported record revenue driven by AI servers using NVIDIA systems, and AM Intelligence announced firm orders for 20,000 NVIDIA Rubin GPUs. The stock opened at $238.90 on Tuesday, with a 50-day moving average of $219.59 and a 200-day moving average of $208.05.