Nvidia CFO Colette Kress Sells Over $7.7 Million in Shares Via Investing.com

Nvidia Corp (NASDAQ: ) Executive Vice President and Chief Financial Officer Colette Kress made significant trades in the company’s stock, according to a recent filing. Kress sold a total of 59,670 shares with a value exceeding $7.7 million. The transactions took place on September 20, 2024, under a predetermined trading plan.

Sales were made at weighted average prices ranging from $116.19 to $118.05. Specifically, Kress sold 45,510 shares at an average price of $116.19, with individual sale prices ranging from $115.67 to $116.67. Another lot of 14,291 shares were sold at an average of $117.15, with prices ranging from $116.68 to $117.65. The final set of 6,869 shares were sold at an average price of $118.05, with a range of $117.68 to $118.52.

These transactions follow an earlier disposition of shares by Kress on September 18, in which 68,609 shares were retained by Nvidia to satisfy tax obligations upon the grant of restricted stock units, valued at $115.59 per share, in total value of approximately $7.9 million.

Following these transactions, Kress’ direct holdings in Nvidia were upgraded to 4,954,214 shares. In addition, there are indirect holdings through a limited liability company connected to an irrevocable trust, totaling 767,680 shares, and smaller amounts held indirectly by immediate family members.

Investors often monitor insider trading for information about executive sentiment about the company’s prospects. The sales by Nvidia’s CFO were planned in advance, complying with SEC Rule 10b5-1, which allows company insiders to set predetermined trading plans for buying or selling stock.

In other recent news, OpenAI, creator of ChatGPT, is in the midst of a significant funding round that could boost its valuation to $150 billion, contingent on a successful restructuring and removal of the profit cap for investors. The funding round is expected to raise $6.5 billion and is attracting interest from existing investors such as Microsoft (NASDAQ: ), Thrive Capital and Khosla Ventures. New investors including Nvidia and Apple (NASDAQ: ) plan to join, with Sequoia Capital in talks to return as an investor.

Meanwhile, Nvidia’s sharp rise in stock has contributed to about a quarter of the S&P 500’s 17% gain this year, with the chipmaker’s performance a major influence on the market. The company’s shares were also the most actively traded in the options market on most days.

In other developments, following the Federal Reserve’s recent interest rate cut, US stock index futures rose sharply, with Nasdaq futures leading gains. Tech giants Microsoft, Meta (NASDAQ: ) and Alphabet (NASDAQ: ) each rose more than 1.5%, and the semiconductor sector saw robust gains, with Nvidia up 2.8%. In addition, market participants are anticipating a further 25 basis point interest rate cut at the November Fed meeting.

InvestingPro Insights

As Nvidia ( NASDAQ:NVDA ) Executive Vice President and CFO Colette Kress engages in planned stock trades, investors and analysts are closely watching the company’s performance metrics and future outlook. According to InvestingPro, Nvidia boasts a perfect Piotroski score of 9, indicating a very healthy financial condition that could instill confidence in the company’s fiscal management and operational efficiency.

In addition, Nvidia is recognized for its impressive gross profit margins, a testament to its pricing power and cost management strategies. This financial measure is particularly relevant because it reflects the company’s ability to translate sales into profit, a key aspect that investors must consider following insider trading.

InvestingPro’s data also highlights that Nvidia is a prominent player in the semiconductor and semiconductor equipment industry, which may influence the stock’s appeal to investors seeking exposure to a leading company in a critical and growing sector of the technology market.

For those looking for deeper insights and additional analysis, InvestingPro offers a comprehensive list of 21 tips for Nvidia, including sales growth anticipation, analysts’ rising earnings review, and the company’s market performance over various time frames. Accessing these tips on InvestingPro can give investors a more nuanced understanding of Nvidia stock’s potential and performance outlook.

This article was generated with AI support and reviewed by an editor. For more information, see T&C.