Donald F. Robertson Jr., the Principal Accounting Officer at NVIDIA Corp (NASDAQ:NVDA), has sold a significant portion of the company's common stock. According to a recent SEC filing, Robertson sold shares totaling $608,775 in value. The sales, executed under a pre-arranged 10b5-1 trading plan, occurred on December 13, 2024, with prices per share ranging from $133.345 to $138.782. The transaction comes as NVIDIA maintains its position as a $3.36 trillion market cap giant, with the stock delivering an impressive 177% return over the past year. According to InvestingPro, NVIDIA currently shows a GREAT financial health score, with 20+ additional insights available to subscribers.
Robertson's transactions involved multiple sales of NVIDIA stock, with the largest single sale being 1,994 shares at a weighted average price of $134.0985. Following these transactions, Robertson holds 480,899 shares directly. The stock currently trades at a P/E ratio of 52.35, reflecting NVIDIA's strong market position and growth potential.
Additionally, on December 11, 2024, Robertson disposed of 7,010 shares at $135.07 each to cover tax obligations related to the vesting of restricted stock units. This transaction was valued at approximately $946,840. Based on InvestingPro's Fair Value analysis, NVIDIA's current stock price suggests the company is slightly overvalued, though it maintains strong fundamentals with impressive gross profit margins of 76%.
In other recent news, Broadcom (NASDAQ:AVGO) reported a significant 220% annual increase in AI revenue, triggering a positive ripple effect across the semiconductor sector. Analysts from Morgan Stanley (NYSE:MS) and Raymond (NS:RYMD) James have acknowledged the robust results and forecast a potential $60-90 billion opportunity in AI by 2027 for Broadcom. Meanwhile, Nvidia Corp . (NASDAQ:NVDA) dismissed rumors about reducing its supply to the Chinese market, emphasizing its commitment to prioritizing customer needs.
In further developments, Mizuho (NYSE:MFG) suggests Nvidia is well-positioned for an upward trajectory leading to new all-time highs in Q1 2025. This outlook aligns with broader analyst sentiment, with 34 analysts recently revising their earnings estimates upward. However, Nvidia is set to face a lawsuit alleging the company misled investors about its reliance on crypto-mining sales, following the US Supreme Court's decision not to hear Nvidia's appeal.
Lastly, the Magnificent Seven, a group of leading technology companies including Nvidia, have surpassed a collective valuation of $18 trillion. Nigel Green, CEO of deVere Group, attributes their success to a consistent track record of outperforming market projections and believes these tech behemoths will maintain their market dominance into 2025.
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