Bridges Investment Management Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 202.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,737 shares of the computer hardware maker’s stock after purchasing an additional 5,178 shares during the period. Bridges Investment Management Inc.’s holdings in NVIDIA were worth $1,390,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Boussard & Gavaudan Investment Management LLP purchased a new stake in NVIDIA in the 1st quarter worth approximately $6,216,000. Patriot Investment Management Inc. purchased a new stake in NVIDIA in the 1st quarter worth approximately $1,107,000. Concorde Asset Management LLC grew its stake in NVIDIA by 75.1% in the 1st quarter. Concorde Asset Management LLC now owns 4,113 shares of the computer hardware maker’s stock worth $740,000 after acquiring an additional 1,764 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in NVIDIA in the 1st quarter worth approximately $562,000. Finally, Waldron Private Wealth LLC purchased a new stake in NVIDIA in the 1st quarter worth approximately $252,000. 70.17% of the stock is owned by hedge funds and other institutional investors.
In other NVIDIA news, CFO Colette Kress sold 14,092 shares of the business’s 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 document filed with the SEC, which is available at this link. Also, EVP Debora Shoquist sold 5,823 shares of the business’s 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. Insiders have sold a total of 20,029 shares of company stock worth $3,678,385 in the last 90 days. Company insiders own 4.64% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 business had revenue of $2.21 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted $1.72 EPS. Sell-side analysts forecast that NVIDIA Co. will post 4.46 EPS for the current year.
Several analysts have recently issued reports on the stock. BidaskClub cut shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. ValuEngine raised shares of NVIDIA from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research raised shares of NVIDIA from a “strong sell” rating to a “hold” rating in a research note on Monday, April 1st. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, March 20th. Finally, Nomura assumed coverage on shares of NVIDIA in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $147.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. NVIDIA presently has an average rating of “Buy” and an average target price of $204.46.
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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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