Emerald Advisers LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)
Emerald Advisers LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,493 shares of the computer hardware maker’s stock after purchasing an additional 446 shares during the quarter. Emerald Advisers LLC’s holdings in NVIDIA were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thor Advisors LLC purchased a new position in shares of NVIDIA in the 1st quarter valued at $29,000. Harvest Group Wealth Management LLC bought a new position in NVIDIA in the 1st quarter worth about $30,000. Truvestments Capital LLC bought a new position in NVIDIA in the 1st quarter worth about $33,000. Field & Main Bank bought a new position in NVIDIA in the 2nd quarter worth about $33,000. Finally, Sound Income Strategies LLC grew its position in NVIDIA by 96.2% in the 2nd quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 67.54% of the company’s stock.
Shares of NASDAQ:NVDA opened at $150.96 on Thursday. The stock has a market cap of $92.23 billion, a P/E ratio of 24.87, a PEG ratio of 3.88 and a beta of 2.07. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $163.99. NVIDIA Co. has a 52 week low of $124.46 and a 52 week high of $292.76.
Several research analysts have commented on NVDA shares. Stifel Nicolaus decreased their target price on shares of NVIDIA from $150.00 to $145.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. Morgan Stanley upped their price target on shares of NVIDIA from $148.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $158.57 price target for the company. in a research note on Friday, May 17th. Zacks Investment Research lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Summit Redstone lowered shares of NVIDIA to a “hold” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $194.07.
In other news, CFO Colette Kress sold 2,236 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $164.01, for a total transaction of $366,726.36. Following the transaction, the chief financial officer now owns 239,710 shares in the company, valued at approximately $39,314,837.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the transaction, the director now owns 32,983 shares in the company, valued at approximately $4,785,833.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,736 shares of company stock worth $15,293,726. 4.64% of the stock is currently owned by company insiders.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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