NVIDIA Co. (NVDA) Position Cut by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 6.3% in the 3rd quarter, Holdings Channel reports. The firm owned 175,010 shares of the computer hardware maker’s stock after selling 11,677 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in NVIDIA were worth $49,181,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of NVDA. Kwmg LLC bought a new position in NVIDIA in the 2nd quarter valued at about $105,000. Legacy Financial Advisors Inc. raised its holdings in NVIDIA by 111.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after acquiring an additional 233 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in NVIDIA in the 3rd quarter valued at about $124,000. Almanack Investment Partners LLC. bought a new position in NVIDIA in the 2nd quarter valued at about $127,000. Finally, Ropes Wealth Advisors LLC raised its holdings in NVIDIA by 561.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total value of $3,082,804.56. Following the sale, the chief financial officer now owns 297,482 shares in the company, valued at $79,222,431.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. Insiders sold 113,707 shares of company stock worth $32,347,973 in the last 90 days. Company insiders own 4.70% of the company’s stock.

Shares of NVIDIA stock opened at $205.67 on Friday. NVIDIA Co. has a fifty-two week low of $176.01 and a fifty-two week high of $292.76. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $129.98 billion, a price-to-earnings ratio of 44.04, a P/E/G ratio of 2.80 and a beta of 2.01.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current fiscal year.

Several research firms have weighed in on NVDA. Morgan Stanley lowered their price target on shares of NVIDIA from $273.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday. Stifel Nicolaus reissued a “hold” rating and issued a $250.00 price target (up from $243.00) on shares of NVIDIA in a report on Friday, August 17th. JPMorgan Chase & Co. raised shares of NVIDIA from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $265.00 to $255.00 in a report on Tuesday, October 30th. BidaskClub cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Cowen lowered their target price on shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $289.82.

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About NVIDIA

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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