Stevens Capital Management LP Acquires 183,684 Shares of NVIDIA Corporation $NVDA

Stevens Capital Management LP lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 727.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 208,920 shares of the computer hardware maker's stock after buying an additional 183,684 shares during the quarter. NVIDIA makes up 5.6% of Stevens Capital Management LP's holdings, making the stock its 2nd largest holding. Stevens Capital Management LP's holdings in NVIDIA were worth $22,643,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Prescott Group Capital Management L.L.C. purchased a new stake in NVIDIA in the 1st quarter worth $255,000. AM Investment Strategies LLC grew its position in shares of NVIDIA by 45.0% during the first quarter. AM Investment Strategies LLC now owns 49,153 shares of the computer hardware maker's stock valued at $5,327,000 after purchasing an additional 15,249 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of NVIDIA by 16.3% in the first quarter. Drive Wealth Management LLC now owns 94,701 shares of the computer hardware maker's stock worth $10,265,000 after purchasing an additional 13,307 shares during the last quarter. Firetrail Investments PTY Ltd. lifted its position in shares of NVIDIA by 3.5% in the first quarter. Firetrail Investments PTY Ltd. now owns 197,289 shares of the computer hardware maker's stock worth $21,614,000 after buying an additional 6,592 shares in the last quarter. Finally, Glynn Capital Management LLC boosted its stake in NVIDIA by 19.9% during the first quarter. Glynn Capital Management LLC now owns 1,050 shares of the computer hardware maker's stock valued at $114,000 after buying an additional 174 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 0.1%

Shares of NASDAQ:NVDA traded up $0.15 during trading on Wednesday, reaching $181.92. The stock had a trading volume of 131,917,903 shares, compared to its average volume of 238,362,547. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The firm's 50-day simple moving average is $168.81 and its 200 day simple moving average is $138.11. 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 capitalization of $4.44 trillion, a P/E ratio of 58.68, a PEG ratio of 1.57 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 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 business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The business's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVDA shares. Evercore ISI lifted their price objective on NVIDIA from $190.00 to $214.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. UBS Group upped their price target on shares of NVIDIA from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. TD Cowen upped their target price on shares of NVIDIA from $140.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $206.00 price target (up previously from $200.00) on shares of NVIDIA in a report on Monday, August 18th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $194.31.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was 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 owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $142,800,000.00. Following the sale, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,912,440 shares of company stock worth $902,886,782. 4.17% of the stock is owned by insiders.

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.