Convergence Investment Partners LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 291.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,563 shares of the computer hardware maker’s stock after purchasing an additional 3,396 shares during the period. Convergence Investment Partners LLC’s holdings in NVIDIA were worth $1,734,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accurate Investment Solutions Inc. lifted its position in shares of NVIDIA by 111.1% during the first quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. PrairieView Partners LLC acquired a new position in shares of NVIDIA during the first quarter worth $26,000. Horan Securities Inc. acquired a new position in shares of NVIDIA during the first quarter worth $33,000. AlphaCore Capital LLC acquired a new position in shares of NVIDIA during the first quarter worth $40,000. Finally, Ellevest Inc. lifted its position in shares of NVIDIA by 256.7% during the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 77 shares in the last quarter. 68.80% of the stock is currently owned by institutional investors and hedge funds.
In other NVIDIA news, Director A Brooke Seawell sold 629 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $366.27, for a total value of $230,383.83. Following the completion of the sale, the director now directly owns 16,159 shares of the company’s stock, valued at approximately $5,918,556.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 100,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $380.63, for a total transaction of $38,063,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,370,600 shares of the company’s stock, valued at $521,691,478. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 24 shares of company stock valued at $7,836 and sold 263,430 shares valued at $98,818,407. Corporate insiders own 4.47% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.44. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3 billion. NVIDIA had a net margin of 28.17% and a return on equity of 28.59%. The company’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 6.57 EPS for the current year.
A number of research analysts have recently commented on NVDA shares. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $305.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. UBS Group lifted their price target on shares of NVIDIA from $330.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Wedbush lifted their price target on shares of NVIDIA from $340.00 to $420.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Barclays lifted their price target on shares of NVIDIA from $390.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, BMO Capital Markets upgraded shares of NVIDIA from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $285.00 to $425.00 in a research note on Monday, May 18th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $368.89.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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