NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Red Wave Investments LLC

Key Points

• Red Wave Investments LLC reduced its position in NVIDIA shares by 5.2%, now holding 34,867 shares valued at $3,779,000.
• Insiders, including Director Tench Coxe, sold 5,687,440 shares of NVIDIA stock worth $862 million in the last three months, resulting in a decrease of their ownership percentage to 4.17%.
• NVIDIA reported a missed earnings estimate for the last quarter with $0.81 EPS, despite revenue increasing by 69.2% year over year, reaching $44.06 billion.

Red Wave Investments LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,867 shares of the computer hardware maker's stock after selling 1,909 shares during the period. NVIDIA comprises approximately 1.4% of Red Wave Investments LLC's holdings, making the stock its 20th largest holding. Red Wave Investments LLC's holdings in NVIDIA were worth $3,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Copia Wealth Management bought a new position in shares of NVIDIA in the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the 1st quarter worth about $51,000. Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares in the last quarter. LSV Asset Management purchased a new stake in NVIDIA in the 4th quarter worth about $54,000. Finally, Delos Wealth Advisors LLC lifted its stake in NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after acquiring an additional 283 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,687,440 shares of company stock worth $862,095,782. 4.17% of the stock is owned by insiders.

NVIDIA Price Performance

NVIDIA stock opened at $182.67 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $4.46 trillion, a P/E ratio of 58.93, a P/E/G ratio of 1.61 and a beta of 2.14. The business's fifty day moving average is $159.82 and its two-hundred day moving average is $133.62. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company earned $0.61 EPS. The company's revenue was up 69.2% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. Barclays increased their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Rosenblatt Securities raised their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Phillip Securities raised NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Finally, Mizuho set a $192.00 price objective on NVIDIA and gave the company an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have assigned 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 price target of $183.75.

NVIDIA Company 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.

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