Malaga Cove Capital LLC Has $3.03 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Malaga Cove Capital LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,558 shares of the computer hardware maker’s stock after selling 3,226 shares during the quarter. NVIDIA makes up approximately 1.2% of Malaga Cove Capital LLC’s portfolio, making the stock its 22nd biggest position. Malaga Cove Capital LLC’s holdings in NVIDIA were worth $3,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of NVIDIA by 6.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,290,407 shares of the computer hardware maker’s stock valued at $724,839,000 after acquiring an additional 302,500 shares in the last quarter. NWI Management LP boosted its holdings in shares of NVIDIA by 1,036.8% during the 4th quarter. NWI Management LP now owns 216,000 shares of the computer hardware maker’s stock valued at $29,007,000 after acquiring an additional 197,000 shares in the last quarter. Nearwater Capital Markets Ltd acquired a new stake in shares of NVIDIA during the 4th quarter valued at $242,662,000. NorthRock Partners LLC boosted its holdings in shares of NVIDIA by 83.2% during the 4th quarter. NorthRock Partners LLC now owns 483,403 shares of the computer hardware maker’s stock valued at $64,916,000 after acquiring an additional 219,491 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in shares of NVIDIA during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last 90 days. Insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NVDA shares. Morgan Stanley reissued a “hold” rating on shares of NVIDIA in a report on Friday, May 23rd. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. Rosenblatt Securities lowered their target price on NVIDIA from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Barclays lowered their target price on NVIDIA from $175.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Wedbush lowered NVIDIA from an “outperform” rating to a “cautious” rating in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $167.53.

NVIDIA Price Performance

NVDA stock opened at $134.81 on Thursday. The company has a market capitalization of $3.30 trillion, a P/E ratio of 53.05, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The business has a 50-day simple moving average of $114.85 and a two-hundred day simple moving average of $126.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

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.