Driehaus Capital Management LLC Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Driehaus Capital Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,623 shares of the computer hardware maker’s stock after selling 7,670 shares during the period. Driehaus Capital Management LLC’s holdings in NVIDIA were worth $3,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Hickory Point Bank & Trust purchased a new stake in NVIDIA in the 4th quarter worth approximately $2,272,000. Capital Performance Advisors LLP raised its holdings in shares of NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Waddell & Associates LLC lifted its stake in NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after acquiring an additional 297 shares during the period. Strategy Asset Managers LLC increased its position in NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after purchasing an additional 405 shares during the period. Finally, Ethos Financial Group LLC raised its holdings in NVIDIA by 24.1% in the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after purchasing an additional 6,241 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock worth $17,133,207. Company insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NVDA. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Raymond James reissued a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. TD Cowen lowered their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus set a $180.00 price target on NVIDIA in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.53.

NVIDIA Price Performance

NASDAQ NVDA opened at $131.29 on Monday. The stock has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 51.67, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s fifty day moving average price is $113.89 and its 200-day moving average price is $126.65.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.