Clear Street Derivatives LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 37,795,664 shares of the computer hardware maker’s stock, valued at approximately $4,589,905,000. NVIDIA makes up 77.6% of Clear Street Derivatives LLC’s investment portfolio, making the stock its biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.5 %

NASDAQ:NVDA opened at $136.32 on Thursday. The company has a market capitalization of $3.34 trillion, a PE ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $54.74 and a 52-week high of $153.13. The stock’s 50 day moving average price is $139.68 and its 200 day moving average price is $128.82. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Analysts Set New Price Targets

A number of research analysts have commented on NVDA shares. Raymond James upped their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their target price on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

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.