Contour Asset Management Lowers stake in NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) : Contour Asset Management reduced its stake in NVIDIA Corporation by 43.56% during the most recent quarter end. The investment management company now holds a total of 1,283,726 shares of NVIDIA Corporation which is valued at $80,926,087 after selling 990,575 shares in NVIDIA Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.NVIDIA Corporation makes up approximately 6.57% of Contour Asset Management’s portfolio.

Other Hedge Funds, Including , Compagnie Lombard Odier Scma boosted its stake in NVDA in the latest quarter, The investment management firm added 1,415 additional shares and now holds a total of 3,365 shares of NVIDIA Corporation which is valued at $212,130. NVIDIA Corporation makes up approx 0.01% of Compagnie Lombard Odier Scma’s portfolio. Vantage Investment Advisors added NVDA to its portfolio by purchasing 221 company shares during the most recent quarter which is valued at $13,932. NVIDIA Corporation makes up approx 0.01% of Vantage Investment Advisors’s portfolio.Rhumbline Advisers boosted its stake in NVDA in the latest quarter, The investment management firm added 141,363 additional shares and now holds a total of 874,886 shares of NVIDIA Corporation which is valued at $55,152,813. NVIDIA Corporation makes up approx 0.16% of Rhumbline Advisers’s portfolio.Meeder Asset Management Inc reduced its stake in NVDA by selling 3,846 shares or 6.4% in the most recent quarter. The Hedge Fund company now holds 56,235 shares of NVDA which is valued at $3,074,367. NVIDIA Corporation makes up approx 0.28% of Meeder Asset Management Inc’s portfolio.Keywise Capital Management Ltd boosted its stake in NVDA in the latest quarter, The investment management firm added 66,800 additional shares and now holds a total of 1,145,000 shares of NVIDIA Corporation which is valued at $62,081,900. NVIDIA Corporation makes up approx 30.13% of Keywise Capital Management Ltd’s portfolio.

NVIDIA Corporation opened for trading at $61.39 and hit $63.38 on the upside on Thursday, eventually ending the session at $63.15, with a gain of 2.95% or 1.81 points. The heightened volatility saw the trading volume jump to 1,07,12,305 shares. Company has a market cap of $33,785 M.

On the company’s financial health, NVIDIA Corporation reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.48. The company had revenue of $1428.00 million for the quarter, compared to analysts expectations of $1352.71 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on NVIDIA Corporation. Company shares were Upgraded by RBC Capital Mkts on Aug 12, 2016 to ” Outperform”, Firm has raised the Price Target to $ 72 from a previous price target of $47 .Company shares were Reiterated by Barclays on Aug 12, 2016 to “Underweight”, Firm has raised the Price Target to $ 54 from a previous price target of $40 .Company shares were Reiterated by Mizuho on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $60 .

NVIDIA Corporation (NVIDIA) is engaged in visual computing enabling individuals to interact with digital ideas data and entertainment. The Company is engaged in creating NVIDIA-branded products and services offering its processors to original equipment manufacturers (OEMs) and licensing its intellectual property. NVIDIA-branded products and services are visual computing platforms that address four markets: Gaming Enterprise High Performance Computing & Cloud and Automotive. The Company operates in two segments: Graphics Processing Unit (GPU) and Tegra Processor. The Company’s GPU product brands include GeForce for gamers; Quadro for designers; Tesla for researchers learning and big-data analysts; and GRID for cloud-based visual computing users. The Company’s Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD.

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