Nvidia Corp (NASDAQ:NVDA) director Mark L. Perry has sold a portion of his holdings in the company, according to a recent SEC filing. The transaction, which took place on April 2, 2024, involved the sale of 7,000 shares of Nvidia common stock at a weighted average price of $887.8942 per share, totaling approximately $6.2 million.
The shares were sold in a range of prices between $887.57 to $888.32, as detailed in the SEC filing footnotes. Investors often monitor such sales as they may provide insights into an insider's perspective on the company's current valuation and future prospects.
Following the sale, Perry maintains a substantial position in Nvidia, with direct and indirect holdings totaling 116,000 shares of common stock. This includes shares held by trusts where Perry serves as a trustee. Specifically, the SEC filing notes that Perry is a trustee for The Zoe Blue Perry 2020 Irrevocable Trust and The Taylor William Perry 2023 Irrevocable Trust, each owning 1,000 shares. Additionally, Perry is a co-trustee of The Perry & Pena Family Trust, which holds shares indirectly.
It's worth noting that Perry disclaims beneficial ownership of the shares held by the trusts, except to the extent of his pecuniary interest therein, if any. This disclaimer is a common legal practice to clarify the nature of an individual's interest in securities held in trust.
The reported transactions are part of a routine filing with the SEC and provide transparency into the trading activities of corporate insiders. Such filings are closely watched by investors seeking to understand the actions of company executives and directors with respect to their own stock holdings.
InvestingPro Insights
In light of the recent insider sale by Nvidia Corp (NASDAQ:NVDA) director Mark L. Perry, the InvestingPro data and tips reveal a multifaceted view of the company's financial health and market position. Nvidia's market capitalization stands at an impressive $2.19 trillion, reflecting its substantial presence in the tech industry. The company's Price/Earnings (P/E) ratio, as of the last twelve months leading up to Q4 2024, is at 74.21, which might suggest a high investor expectation of future earnings growth, especially when considering the PEG ratio of 0.13 indicating potential undervaluation relative to its earnings growth rate.
Furthermore, Nvidia has demonstrated remarkable revenue growth, with an increase of 125.85% over the last twelve months as of Q4 2024. This considerable growth trajectory is complemented by a high gross profit margin of 72.72%, showcasing the company's ability to maintain profitability amidst competitive market conditions.
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