Spearhead Capital Advisors LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,384 shares of the computer hardware maker’s stock, valued at approximately $326,000.
Other large investors have also added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC lifted its stake in shares of NVIDIA by 4.1% in the third quarter. Carnegie Capital Asset Management LLC now owns 34,069 shares of the computer hardware maker’s stock worth $5,930,000 after acquiring an additional 1,329 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of NVIDIA in the third quarter worth about $6,260,000. Baker Avenue Asset Management LP increased its holdings in NVIDIA by 15.6% in the third quarter. Baker Avenue Asset Management LP now owns 10,205 shares of the computer hardware maker’s stock valued at $1,776,000 after buying an additional 1,375 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in NVIDIA in the fourth quarter valued at about $75,000. Finally, Strategic Wealth Advisors Group LLC increased its holdings in NVIDIA by 20.7% in the third quarter. Strategic Wealth Advisors Group LLC now owns 14,395 shares of the computer hardware maker’s stock valued at $2,505,000 after buying an additional 2,471 shares during the last quarter. Institutional investors and hedge funds own 65.23% of the company’s stock.
Several analysts recently weighed in on NVDA shares. ValuEngine lowered NVIDIA from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Friday, January 24th. Raymond James boosted their price objective on NVIDIA from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Friday. Craig Hallum boosted their price objective on NVIDIA from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley boosted their price objective on NVIDIA from $259.00 to $304.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. NVIDIA presently has a consensus rating of “Buy” and a consensus target price of $255.75.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, February 13th. The computer hardware maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.22. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities analysts expect that NVIDIA Co. will post 4.32 EPS for the current fiscal year.
In other NVIDIA news, Director Robert K. Burgess sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $230.71, for a total value of $1,845,680.00. Following the completion of the sale, the director now directly owns 13,894 shares in the company, valued at $3,205,484.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.43, for a total value of $470,860.00. Following the completion of the sale, the chief financial officer now owns 169,989 shares of the company’s stock, valued at $40,020,510.27. The disclosure for this sale can be found here. Insiders sold a total of 51,785 shares of company stock valued at $11,454,424 over the last three months. Corporate insiders own 4.64% of the company’s stock.
NVIDIA Company Profile
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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