Mint Tower Capital Management B.V. Lowers Stake in NVIDIA Corporation (NVDA)
Mint Tower Capital Management B.V. decreased its position in NVIDIA Corporation (NASDAQ:NVDA) by 98.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the computer hardware maker’s stock after selling 50,300 shares during the period. NVIDIA Corporation comprises approximately 0.0% of Mint Tower Capital Management B.V.’s holdings, making the stock its 16th largest position. Mint Tower Capital Management B.V.’s holdings in NVIDIA Corporation were worth $145,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. RB Capital Management LLC acquired a new position in shares of NVIDIA Corporation during the second quarter worth $272,000. Greenwich Wealth Management LLC increased its position in shares of NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock worth $6,039,000 after buying an additional 357 shares during the last quarter. Columbus Circle Investors acquired a new position in shares of NVIDIA Corporation during the first quarter worth $8,530,000. Ameriprise Financial Inc. increased its position in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new position in shares of NVIDIA Corporation during the first quarter worth $17,244,000. 68.91% of the stock is owned by hedge funds and other institutional investors.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 3.07% during mid-day trading on Monday, reaching $172.35. 17,866,620 shares of the company’s stock traded hands. NVIDIA Corporation has a 12-month low of $57.31 and a 12-month high of $172.37. The stock has a 50-day moving average price of $156.80 and a 200 day moving average price of $124.22. The firm has a market capitalization of $102.55 billion, a price-to-earnings ratio of 57.85 and a beta of 1.24.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 48.7% on a year-over-year basis. Analysts anticipate that NVIDIA Corporation will post $3.10 EPS for the current fiscal year.
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NVDA has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $171.00 target price (up previously from $165.00) on shares of NVIDIA Corporation in a research note on Wednesday, June 14th. Zacks Investment Research downgraded NVIDIA Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. CLSA restated an “underperform” rating and issued a $115.00 target price on shares of NVIDIA Corporation in a research note on Wednesday, May 10th. Pacific Crest restated an “underweight” rating and issued a $90.00 target price on shares of NVIDIA Corporation in a research note on Monday, May 8th. Finally, Vetr downgraded NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $174.02 price objective on the stock. in a research note on Tuesday, July 11th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $134.48.
In related news, Director A Brooke Seawell sold 3,107 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $140.00, for a total transaction of $434,980.00. Following the completion of the sale, the director now owns 5,165 shares of the company’s stock, valued at $723,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Persis Drell sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $130.02, for a total transaction of $325,050.00. Following the sale, the director now directly owns 24,652 shares of the company’s stock, valued at approximately $3,205,253.04. The disclosure for this sale can be found here. Insiders sold a total of 622,282 shares of company stock valued at $93,304,082 in the last ninety days. Corporate insiders own 5.17% of the company’s stock.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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