NVIDIA director Mark Stevens sells $410.8 million in company stock

Mark A. Stevens, a director at NVIDIA Corp (NASDAQ:NVDA), recently sold common stock totaling approximately $410.8 million, according to a filing with the Securities and Exchange Commission. The transactions occurred over several dates, specifically August 31, 2026, September 1, 2026, and September 2, 2026.

Stevens disposed of a total of 1,848,501 shares of NVIDIA common stock. The shares were sold at prices ranging from $220.0589 to $226.2704 per share. These sales were conducted indirectly, with the shares held by the Third Millennium Trust, of which Mr. Stevens and his wife are co-trustees.The sales come as NVIDIA trades at $227.93, near its 52-week high of $236.54. According to InvestingPro analysis, the stock remains undervalued relative to its Fair Value, with the company maintaining an "EXCELLENT" financial health score. For deeper insights into NVDA’s valuation and 17+ additional ProTips, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro.

Following these transactions, Mr. Stevens continues to beneficially own 11,544,612 shares directly. Additionally, he indirectly holds 3,358,770 shares through the Third Millennium Trust and 15,017,750 shares through the Envy Trust, for which he is the trustee.

In other recent news, Nvidia’s financial outlook continues to attract attention. JPMorgan has reiterated an Overweight rating on Nvidia, maintaining a price target of $320. This decision follows discussions with the company’s investor relations team, who highlighted a projected 70% year-over-year growth framework for fiscal year 2028, driven by demand from hyperscalers, neoclouds, AI labs, sovereign AI, and enterprises. Meanwhile, Baird has also reiterated an Outperform rating with a $500 price target, following a significant $35 billion cloud-computing agreement between Anthropic and Nvidia-backed Lambda.

The Wall Street Journal reported that Hut 8, a bitcoin miner and data-center developer, is developing the data center in Texas, which is part of this agreement. Additionally, Nvidia has revived its Rubin CPX chip program, with production slated to begin in the first quarter of 2027, according to industry research by Ming-Chi Kuo of TF International Securities. This development comes as a surprise, as the program was previously believed to have been canceled. These recent developments reflect Nvidia’s ongoing strategic initiatives and partnerships in the tech industry.