NVIDIA Co. (NASDAQ:NVDA) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,448 shares of the computer hardware maker’s stock after selling 45,239 shares during the quarter. ARK Investment Management LLC’s holdings in NVIDIA were worth $45,230,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NVDA. Mainstream Capital Management LLC acquired a new position in NVIDIA in the third quarter valued at $3,495,000. Keynote Financial Services LLC boosted its stake in NVIDIA by 37.3% in the 3rd quarter. Keynote Financial Services LLC now owns 5,409 shares of the computer hardware maker’s stock worth $657,000 after buying an additional 1,469 shares during the last quarter. Global Strategic Investment Solutions LLC grew its holdings in NVIDIA by 5.9% in the 3rd quarter. Global Strategic Investment Solutions LLC now owns 21,681 shares of the computer hardware maker’s stock valued at $2,633,000 after buying an additional 1,208 shares during the period. JB Capital LLC increased its stake in shares of NVIDIA by 5.6% during the 3rd quarter. JB Capital LLC now owns 37,157 shares of the computer hardware maker’s stock valued at $4,512,000 after acquiring an additional 1,983 shares during the last quarter. Finally, Keudell Morrison Wealth Management lifted its holdings in shares of NVIDIA by 0.6% during the 3rd quarter. Keudell Morrison Wealth Management now owns 20,706 shares of the computer hardware maker’s stock worth $2,515,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock valued at $201,687,727 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.1 %

Shares of NVIDIA stock opened at $134.70 on Monday. The company’s 50-day moving average price is $139.63 and its 200-day moving average price is $127.32. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The company has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVDA. Piper Sandler boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Finally, Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Company Profile

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.