NVIDIA Corporation $NVDA Holdings Lifted by Sunpointe LLC

Sunpointe LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 89.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,816 shares of the computer hardware maker’s stock after buying an additional 44,639 shares during the quarter. NVIDIA accounts for approximately 5.5% of Sunpointe LLC’s holdings, making the stock its biggest position. Sunpointe LLC’s holdings in NVIDIA were worth $10,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. grew its holdings in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after buying an additional 254 shares in the last quarter. Copia Wealth Management purchased a new position in NVIDIA in the fourth quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA in the first quarter valued at about $51,000. Bruce G. Allen Investments LLC grew its stake in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management purchased a new position in NVIDIA in the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,912,440 shares of company stock worth $902,886,782. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $181.77 on Wednesday. The stock has a 50-day simple moving average of $168.81 and a 200 day simple moving average of $138.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market capitalization of $4.44 trillion, a PE ratio of 58.64, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue was up 69.2% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. Research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on NVDA shares. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Robert W. Baird boosted their target price on NVIDIA from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus boosted their target price on NVIDIA from $202.00 to $212.00 and gave the company a “buy” rating in a research note on Monday. Finally, Morgan Stanley restated an “overweight” rating and issued a $206.00 target price (up previously from $200.00) on shares of NVIDIA in a research note on Monday, August 18th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.31.

NVIDIA Company Profile

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.