Lattice Capital Management LLC Sells 10,000 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Lattice Capital Management LLC reduced its stake in NVIDIA Corporation by 3.3%, selling 10,000 shares, while still holding 296,560 shares, representing 33% of its portfolio.
• Significant insider selling occurred, with Director Tench Coxe selling 1,000,000 shares for $142.8 million, reducing his ownership by 3.61%.
• NVIDIA's recent earnings report showed a decline in earnings per share (EPS) to $0.81, missing the consensus estimate, but revenues increased by 69.2% year-over-year.

Lattice Capital Management LLC trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,560 shares of the computer hardware maker's stock after selling 10,000 shares during the period. NVIDIA comprises about 33.0% of Lattice Capital Management LLC's portfolio, making the stock its largest position. Lattice Capital Management LLC's holdings in NVIDIA were worth $32,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Condor Capital Management grew its position in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. Kelly Financial Services LLC grew its position in NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares in the last quarter. Foundry Financial Group Inc. grew its position in NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after purchasing an additional 96 shares in the last quarter. Mendel Capital Management LLC grew its position in NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares in the last quarter. Finally, Wallace Hart LLC grew its position in NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after purchasing an additional 97 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,489,800 shares of company stock valued at $826,553,003 over the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Mizuho set a $192.00 target price on shares of NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Oppenheimer lifted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Needham & Company LLC lifted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Stock Down 1.0%

Shares of NASDAQ NVDA opened at $178.26 on Wednesday. The firm has a market cap of $4.35 trillion, a PE ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The company's fifty day simple moving average is $157.13 and its 200 day simple moving average is $132.90. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The firm's revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

NVIDIA 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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.