DekaBank Deutsche Girozentrale increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 127.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 613,711 shares of the computer hardware maker’s stock after buying an additional 343,334 shares during the period. DekaBank Deutsche Girozentrale’s holdings in NVIDIA were worth $100,497,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Thor Advisors LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at about $29,000. Harvest Group Wealth Management LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at about $30,000. Truvestments Capital LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at about $33,000. Field & Main Bank acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $33,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of NVIDIA by 96.2% in the 2nd quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 100 shares during the period. 67.54% of the stock is owned by institutional investors and hedge funds.
In other news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $166.80, for a total transaction of $417,000.00. Following the sale, the director now owns 20,684 shares in the company, valued at $3,450,091.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 2,236 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $164.01, for a total transaction of $366,726.36. Following the sale, the chief financial officer now owns 239,710 shares in the company, valued at approximately $39,314,837.10. The disclosure for this sale can be found here. Insiders sold a total of 104,736 shares of company stock worth $15,293,726 over the last quarter. Insiders own 4.64% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $2.05 EPS. The business’s revenue for the quarter was down 30.8% on a year-over-year basis. As a group, analysts forecast that NVIDIA Co. will post 4.16 EPS for the current year.
Several research analysts have recently commented on NVDA shares. Morgan Stanley lifted their price target on shares of NVIDIA from $148.00 to $170.00 and gave the company an “equal weight” rating in a report on Monday, May 13th. Sanford C. Bernstein set a $150.00 price target on shares of NVIDIA and gave the company a “hold” rating in a report on Wednesday, June 26th. BidaskClub lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $158.57 price target for the company. in a report on Friday, May 17th. Finally, Barclays decreased their price target on shares of NVIDIA from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $194.07.
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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