Legacy Private Trust Co. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 42.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,898 shares of the computer hardware maker’s stock after selling 12,551 shares during the quarter. Legacy Private Trust Co.’s holdings in NVIDIA were worth $3,034,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Blue Fin Capital Inc. increased its stake in NVIDIA by 22.3% in the 3rd quarter. Blue Fin Capital Inc. now owns 4,671 shares of the computer hardware maker’s stock valued at $1,313,000 after buying an additional 853 shares during the last quarter. Capital Guardian Trust Co. purchased a new stake in NVIDIA in the 3rd quarter valued at about $187,000. Bamco Inc. NY bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $5,086,000. Veritable L.P. grew its position in shares of NVIDIA by 4.7% during the 3rd quarter. Veritable L.P. now owns 20,482 shares of the computer hardware maker’s stock valued at $5,756,000 after acquiring an additional 911 shares during the period. Finally, Man Group plc grew its position in shares of NVIDIA by 5.6% during the 3rd quarter. Man Group plc now owns 37,977 shares of the computer hardware maker’s stock valued at $10,673,000 after acquiring an additional 2,028 shares during the period. Hedge funds and other institutional investors own 69.89% of the company’s stock.
A number of research analysts have recently weighed in on the stock. BidaskClub downgraded shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 16th. DZ Bank downgraded shares of NVIDIA to a “sell” rating and set a $170.00 target price for the company. in a research report on Friday, April 12th. TheStreet raised shares of NVIDIA from a “c+” rating to a “b-” rating in a research report on Thursday, April 4th. Nomura assumed coverage on shares of NVIDIA in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $147.00 target price for the company. Finally, Zacks Investment Research raised shares of NVIDIA from a “strong sell” rating to a “hold” rating in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the stock. NVIDIA has a consensus rating of “Buy” and a consensus price target of $204.46.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, February 14th. The computer hardware maker reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.27. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.22 billion. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the company posted $1.72 EPS. As a group, research analysts forecast that NVIDIA Co. will post 4.46 EPS for the current fiscal year.
In related news, CFO Colette Kress sold 14,092 shares of NVIDIA stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of NVIDIA stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the completion of the transaction, the executive vice president now owns 171,783 shares in the company, valued at approximately $31,779,855. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,029 shares of company stock worth $3,678,385. Corporate insiders own 4.64% of the company’s stock.
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NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which 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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