BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 27.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 210,669 shares of the computer hardware maker’s stock after selling 78,656 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in NVIDIA were worth $59,202,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Kwmg LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $105,000. Signature Estate & Investment Advisors LLC bought a new stake in NVIDIA during the 3rd quarter worth approximately $124,000. Almanack Investment Partners LLC. bought a new stake in NVIDIA during the 2nd quarter worth approximately $127,000. Ropes Wealth Advisors LLC raised its stake in NVIDIA by 561.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after acquiring an additional 500 shares during the period. Finally, JFS Wealth Advisors LLC bought a new stake in NVIDIA during the 3rd quarter worth approximately $141,000. Hedge funds and other institutional investors own 66.12% of the company’s stock.
In related news, CFO Colette Kress sold 11,576 shares of the firm’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total value of $3,082,804.56. Following the completion of the transaction, the chief financial officer now directly owns 297,482 shares of the company’s stock, valued at $79,222,431.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 90,831 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the completion of the transaction, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is currently owned by insiders.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.06). NVIDIA had a net margin of 37.78% and a return on equity of 51.60%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Analysts predict that NVIDIA Co. will post 6.45 earnings per share for the current year.
NVDA has been the topic of a number of recent analyst reports. Goldman Sachs Group upgraded shares of NVIDIA from a “buy” rating to a “conviction-buy” rating and decreased their target price for the stock from $324.00 to $305.00 in a research note on Thursday, October 18th. Evercore ISI raised their target price on shares of NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Credit Suisse Group started coverage on shares of NVIDIA in a report on Monday, November 26th. They set an “outperform” rating and a $225.00 price objective for the company. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. Finally, Needham & Company LLC increased their price objective on shares of NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 14th. Three equities research 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 company. The stock presently has an average rating of “Buy” and an average price target of $257.76.
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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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