Highland Capital Management LP decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 17.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,600 shares of the computer hardware maker’s stock after selling 7,800 shares during the period. Highland Capital Management LP’s holdings in NVIDIA were worth $10,566,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Alps Advisors Inc. lifted its position in NVIDIA by 23.0% in the second quarter. Alps Advisors Inc. now owns 5,960 shares of the computer hardware maker’s stock worth $1,153,000 after purchasing an additional 1,113 shares during the period. Bainco International Investors lifted its position in NVIDIA by 1.0% in the second quarter. Bainco International Investors now owns 23,650 shares of the computer hardware maker’s stock worth $5,603,000 after purchasing an additional 223 shares during the period. First Manhattan Co. lifted its position in NVIDIA by 76.3% in the second quarter. First Manhattan Co. now owns 693 shares of the computer hardware maker’s stock worth $164,000 after purchasing an additional 300 shares during the period. Smith Asset Management Group LP lifted its position in NVIDIA by 28.9% in the second quarter. Smith Asset Management Group LP now owns 43,893 shares of the computer hardware maker’s stock worth $10,398,000 after purchasing an additional 9,830 shares during the period. Finally, D.A. Davidson & CO. lifted its position in NVIDIA by 4.4% in the second quarter. D.A. Davidson & CO. now owns 8,900 shares of the computer hardware maker’s stock worth $2,109,000 after purchasing an additional 379 shares during the period. Institutional investors own 67.56% of the company’s stock.
Shares of NASDAQ:NVDA opened at $158.29 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.20 and a current ratio of 7.08. NVIDIA Co. has a 12-month low of $133.31 and a 12-month high of $292.76. The firm has a market cap of $95.84 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.28 and a beta of 1.97.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.06). NVIDIA had a net margin of 37.78% and a return on equity of 51.60%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. On average, sell-side analysts forecast that NVIDIA Co. will post 6.45 earnings per share for the current fiscal year.
In other NVIDIA news, insider Michael Byron sold 11,257 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the sale, the insider now directly owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 11,576 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at $79,222,431.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,664 shares of company stock worth $32,335,927. Company insiders own 4.70% of the company’s stock.
A number of equities research analysts have weighed in on the company. BidaskClub upgraded NVIDIA from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Monday, November 26th. B. Riley restated a “neutral” rating and issued a $190.00 target price (down from $240.00) on shares of NVIDIA in a research report on Friday, November 16th. Credit Suisse Group began coverage on NVIDIA in a research report on Sunday, December 2nd. They issued an “outperform” rating and a $145.00 target price for the company. Finally, Deutsche Bank cut their price objective on NVIDIA from $260.00 to $190.00 and set a “hold” rating for the company in a research report on Friday, November 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. NVIDIA currently has an average rating of “Buy” and a consensus target price of $257.76.
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NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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