Concentric Capital Strategies LP Sells 142,376 Shares of NVIDIA Co. (NASDAQ:NVDA)

Concentric Capital Strategies LP cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 42.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,321 shares of the computer hardware maker's stock after selling 142,376 shares during the quarter. NVIDIA makes up approximately 1.2% of Concentric Capital Strategies LP's holdings, making the stock its 10th largest holding. Concentric Capital Strategies LP's holdings in NVIDIA were worth $26,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tacita Capital Inc acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $46,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Piper Sandler set a $150.00 price objective on NVIDIA in a research report on Tuesday. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research report on Wednesday, March 19th. TD Cowen reduced their price objective on NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $167.53.

NVIDIA Stock Performance

Shares of NVDA stock traded up $1.10 during trading on Wednesday, reaching $136.60. The company had a trading volume of 153,614,714 shares, compared to its average volume of 288,035,009. The firm's 50 day simple moving average is $114.51 and its two-hundred day simple moving average is $126.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The company has a market capitalization of $3.34 trillion, a PE ratio of 53.89, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

About NVIDIA

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.