NVIDIA Co. (NVDA) Position Reduced by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,186 shares of the computer hardware maker’s stock after selling 605 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in NVIDIA were worth $2,658,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NVDA. FMR LLC grew its holdings in shares of NVIDIA by 3.5% during the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock worth $11,512,019,000 after purchasing an additional 1,656,748 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of NVIDIA by 63.7% during the second quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock worth $1,000,199,000 after purchasing an additional 1,643,689 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of NVIDIA by 18.8% during the second quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock worth $1,847,847,000 after purchasing an additional 1,234,191 shares during the last quarter. USS Investment Management Ltd purchased a new position in shares of NVIDIA during the third quarter worth about $131,500,000. Finally, BlackRock Inc. grew its holdings in shares of NVIDIA by 1.2% during the second quarter. BlackRock Inc. now owns 38,562,828 shares of the computer hardware maker’s stock worth $9,135,533,000 after purchasing an additional 454,434 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ NVDA opened at $205.67 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41. NVIDIA Co. has a 52-week low of $176.01 and a 52-week high of $292.76. The stock has a market cap of $128.32 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.77 and a beta of 2.01.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The firm’s revenue was up 40.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. Analysts predict that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.

Several brokerages have issued reports on NVDA. Needham & Company LLC raised their price objective on NVIDIA from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Evercore ISI raised their price objective on NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of NVIDIA in a report on Friday, August 17th. Bank of America dropped their price objective on NVIDIA from $360.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Finally, Cowen dropped their price objective on NVIDIA from $325.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $289.82.

In related news, EVP Ajay K. Puri sold 90,831 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the sale, the executive vice president now owns 184,001 shares in the company, valued at $53,240,689.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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