ExodusPoint Capital Management LP Invests $1.35 Million in NVIDIA Co. (NASDAQ:NVDA)

Posted by on Feb 24th, 2023

ExodusPoint Capital Management LP purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,103 shares of the computer hardware maker’s stock, valued at approximately $1,348,000.

Other hedge funds have also recently added to or reduced their stakes in the company. United Bank increased its holdings in NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after purchasing an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares during the period. MAS Advisors LLC boosted its stake in shares of NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares during the period. Navis Wealth Advisors LLC raised its position in NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of NVIDIA during the first quarter worth $929,000. Institutional investors own 61.80% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $236.64 on Friday. The firm has a market capitalization of $589.23 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 5.61 and a beta of 1.79. The firm has a fifty day simple moving average of $183.14 and a two-hundred day simple moving average of $160.25. The company has a current ratio of 3.39, a quick ratio of 2.74 and a debt-to-equity ratio of 0.45. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $289.46.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a net margin of 20.85% and a return on equity of 30.75%. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.19 EPS for the current fiscal year.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 120,000 shares of the firm’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $158.84, for a total transaction of $19,060,800.00. Following the sale, the director now directly owns 1,325,888 shares in the company, valued at approximately $210,604,049.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 2,494 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $167.89, for a total transaction of $418,717.66. Following the sale, the insider now directly owns 56,617 shares of the company’s stock, valued at $9,505,428.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 120,000 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $158.84, for a total transaction of $19,060,800.00. Following the completion of the sale, the director now owns 1,325,888 shares of the company’s stock, valued at $210,604,049.92. The disclosure for this sale can be found here. Insiders have sold 262,060 shares of company stock valued at $43,817,257 over the last ninety days. Insiders own 4.04% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $162.00 to $275.00 in a report on Thursday. Mizuho increased their price objective on shares of NVIDIA from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. Bank of America increased their price objective on shares of NVIDIA from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC increased their price objective on shares of NVIDIA from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $237.68.

NVIDIA Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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