Cardano Trims Stake in NVIDIA Amid Strong Earnings Performance
Cardano Risk Management B.V., an institutional investor, made significant adjustments to its holdings in NVIDIA Corporation (NASDAQ:NVDA) in the second quarter. The company disclosed a reduction of its position by 4.5% through the sale of 359,349 shares. Following this transaction, Cardano Risk Management B.V. owned approximately 7,715,089 shares of NVIDIA's stock, which accounted for about 11.9% of its total portfolio.
The value of these holdings was around $1.54 billion at the end of the reporting period. This significant stake in NVIDIA makes it the company's largest holding. In addition to Cardano Risk Management B.V., other institutional investors have also adjusted their stakes in NVDA, with some increasing and others decreasing their positions.
NVIDIA has been a subject of interest among analysts and investors due to its strong performance and growth prospects. The company reported better-than-expected earnings results for the second quarter, beating estimates by $0.11 per share. Its revenue also surpassed expectations, increasing by 85.2% year-over-year.