Nvidia Corp (NASDAQ: NVDA) Insider Sale

Nvidia Corp (NASDAQ: NVDA) recently announced a transaction involving its Principal Accounting Officer, Donald F. Robertson Jr., who sold 4,500 shares, garnering over $520,000 in proceeds.

Sale Details

The transactions occurred on September 20, 2024, with share prices ranging from $116.18 to $118.15:
– 3,300 shares sold at an average price of $116.18 (range: $115.70 – $116.64)
– 900 shares sold at an average price of $117.19 (range: $116.77 – $117.73)
– 300 shares sold at an average price of $118.15 (range: $118.06 – $118.27)

This sale was part of a Rule 10b5-1 trading plan adopted by Robertson on October 6, 2023. This rule helps company insiders pre-arrange stock transactions, minimizing insider trading claims.

On a separate note, on September 18, Nvidia withheld shares valued at $805,893 to meet tax obligations related to restricted stock units. Following these sales, Robertson’s holdings in Nvidia now total 492,409 shares.

Broader Market Context

In additional news, OpenAI is in a major financing round that could value the company at $150 billion, contingent upon removing a profit cap for investors. The proposed $6.5 billion round has drawn interest from tech firms including Microsoft, Nvidia, and Apple.

Nvidia’s stock has surged 140% this year, contributing significantly to the S&P 500’s performance, fueled by strong demand for its chips as stated by the CEO.

In banking, stocks from firms like JPMorgan Chase, Bank of America, and Wells Fargo increased after they reduced their prime rates, in response to the Federal Reserve’s recent cut.

Financial Performance

According to InvestingPro, Nvidia’s revenue reached $96.31 billion in the last twelve months, reflecting a 194.69% increase. With a gross profit margin of 75.98%, Nvidia is well-positioned for ongoing growth.

Investors can find additional insights regarding Nvidia on the InvestingPro platform, which features 21 tips to evaluate the company’s financial health and growth potential. Nvidia’s stock saw a total return of 134.29% year-to-date, with 13 consecutive years of dividend payments, enhancing investor confidence despite the recent insider sale.

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