Krane Funds Advisors LLC Purchases 1,806 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Krane Funds Advisors LLC increased its stake in NVIDIA Corporation by 8.8%, holding 22,329 shares valued at $2,420,000, making it the firm's 20th largest holding.
• NVIDIA's CEO, Jen Hsun Huang, sold 75,000 shares for approximately $12.7 million, which slightly reduced his ownership stake by 0.10%.
• Analysts have upgraded target prices for NVIDIA, with Bank of America raising it from $180 to $220 and Jefferies from $185 to $200, reflecting strong confidence in the company's growth potential.

Krane Funds Advisors LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,329 shares of the computer hardware maker's stock after purchasing an additional 1,806 shares during the quarter. NVIDIA accounts for 0.1% of Krane Funds Advisors LLC's holdings, making the stock its 20th largest position. Krane Funds Advisors LLC's holdings in NVIDIA were worth $2,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA in the 1st quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC raised its position in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NVDA traded up $3.76 during trading hours on Wednesday, reaching $179.27. 170,353,567 shares of the stock traded hands, compared to its average volume of 149,383,152. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $179.89. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.37 trillion, a P/E ratio of 57.83, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. The company's 50-day moving average price is $153.55 and its two-hundred day moving average price is $131.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research reports. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Morgan Stanley increased their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday. Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, DA Davidson boosted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $182.03.

Insider Activity

In related news, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, July 28th. The shares were sold at an average price of $175.22, for a total transaction of $13,141,500.00. Following the completion of the sale, the chief executive officer owned 73,898,225 shares in the company, valued at approximately $12,948,446,984.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,264,800 shares of company stock worth $786,735,503 over the last quarter. Insiders own 4.17% of the company's stock.

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.