Jackson Square Capital LLC Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 9th, 2023

Jackson Square Capital LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 80.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,929 shares of the computer hardware maker’s stock after acquiring an additional 10,189 shares during the quarter. NVIDIA comprises 2.9% of Jackson Square Capital LLC’s portfolio, making the stock its 7th largest position. Jackson Square Capital LLC’s holdings in NVIDIA were worth $6,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC boosted its position in shares of NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after purchasing an additional 108 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of NVIDIA during the first quarter worth $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of NVIDIA during the fourth quarter worth $34,000. Financial Connections Group Inc. boosted its position in shares of NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after purchasing an additional 212 shares in the last quarter. Finally, NewSquare Capital LLC bought a new position in shares of NVIDIA during the fourth quarter worth $37,000. 64.00% of the stock is owned by institutional investors.

NVIDIA Trading Up 1.0 %

NVIDIA stock opened at $425.03 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $367.20 and its two-hundred day simple moving average is $272.25. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 221.37, a price-to-earnings-growth ratio of 2.93 and a beta of 1.74.

NVIDIA (NASDAQ:NVDA – Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s payout ratio is currently 8.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NVDA shares. KeyCorp raised their price objective on shares of NVIDIA from $320.00 to $375.00 in a report on Monday, May 22nd. Barclays raised their price objective on shares of NVIDIA from $275.00 to $500.00 in a report on Thursday, May 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $220.00 to $390.00 in a report on Thursday, May 25th. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $290.00 to $490.00 in a report on Thursday, May 25th. Finally, UBS Group raised their price objective on shares of NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.19.

Insider Activity

In other news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the completion of the transaction, the director now directly owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The disclosure for this sale can be found here. Insiders have sold a total of 368,271 shares of company stock valued at $147,115,953 over the last ninety days. 3.99% of the stock is currently owned by corporate insiders.

About NVIDIA

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.