ARK Investment Management LLC offloads 76,712 NVIDIA Co. (NASDAQ:NVDA) shares

ARK Investment Management LLC offloads 76,712 NVIDIA Co. (NASDAQ:NVDA) shares

ARK Investment Management LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 34.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,081 shares of the computer hardware maker’s stock after selling 76,712 shares during the quarter. ARK Investment Management LLC’s holdings in NVIDIA were worth $73,333,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NVDA. Peoples Financial Services CORP. bought a new position in NVIDIA in the third quarter valued at approximately $30,000. Your Advocates Ltd. LLP bought a new position in NVIDIA in the third quarter valued at approximately $30,000. Quarry LP bought a new position in NVIDIA in the first quarter valued at approximately $34,000. Compass Wealth Management LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $39,000. Finally, Trivant Custom Portfolio Group LLC increased its stake in NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $484.62, for a total transaction of $218,079.00. Following the sale, the insider now owns 50,961 shares in the company, valued at $24,696,719.82. The disclosure for this sale can be found here. Insiders have sold a total of 105,352 shares of company stock worth $64,853,077 over the last three months. 3.99% of the stock is currently owned by insiders.

NVIDIA Trading Up 0.1 %

NASDAQ:NVDA opened at $903.56 on Friday. NVIDIA Co. has a one year low of $262.20 and a one year high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm has a 50-day moving average of $772.45 and a 200-day moving average of $574.01. The company has a market cap of $2.26 trillion, a PE ratio of 75.68, a PEG ratio of 1.30 and a beta of 1.73.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVDA. KeyCorp reissued an “overweight” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research note on Tuesday, March 19th. Wolfe Research boosted their target price on shares of NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,100.00 target price on shares of NVIDIA in a research note on Tuesday, February 20th. Finally, Mizuho boosted their target price on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $908.68.

View Our Latest Research Report on NVDA

NVIDIA Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDAFree Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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