71 West Capital Partners Boosts Stake in NVIDIA Corporation

NVIDIA Corporation's stock has been a significant holding for 71 West Capital Partners, which increased its stake in the company by 13.7% during the second quarter. The firm bought an additional 57,973 shares of NVIDIA's stock, bringing its total to 480,811 shares. This represents approximately 3.3% of 71 West Capital Partners' investment portfolio, making it the company's seventh-largest holding.

The value of 71 West Capital Partners' holdings in NVIDIA was $96,205,000 as of its most recent SEC filing. Several other large investors have also added to or reduced their stakes in NVDA during the same period. Lifetime Wealth Management P.C., for example, bought a new stake in NVIDIA worth about $26,000 in the fourth quarter.

NVIDIA's stock has performed well this year, with its fifty-day moving average price at $215.73 and its two-hundred day moving average price at $205.39. The company's market capitalization is $5.43 trillion, and it has a PE ratio of 28.51.

Management expects higher memory costs to pressure gross margins, but demand for NVIDIA's AI infrastructure remains strong. Analysts have set new price targets for the stock, with some predicting a value as high as $390.00 per share.