TTP Investments Inc. Trims Position in NVIDIA Co. (NASDAQ:NVDA)

TTP Investments Inc. lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 21.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,012 shares of the computer hardware maker’s stock after selling 43,555 shares during the period. NVIDIA comprises 7.6% of TTP Investments Inc.’s holdings, making the stock its 5th largest position. TTP Investments Inc.’s holdings in NVIDIA were worth $21,757,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. raised its holdings in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the period. Palisade Asset Management LLC lifted its holdings in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares in the last quarter. Blue Square Asset Management LLC boosted its position in shares of NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares during the period. Finally, Narwhal Capital Management grew its holdings in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Citigroup lifted their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. HSBC reduced their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Susquehanna increased their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $168.21.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVDA stock opened at $139.40 on Wednesday. NVIDIA Co. has a 1-year low of $66.25 and a 1-year high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $134.52 and a 200-day moving average price of $130.56. The firm has a market cap of $3.41 trillion, a PE ratio of 54.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.