Institutional Investors Flock to NVIDIA Amid Rising Demand
NVIDIA Corporation (NASDAQ:NVDA) has seen significant investment activity from various institutional investors and hedge funds. Connective Capital Management LLC, for example, boosted its stake in shares of NVIDIA by 1,731.2% during the second quarter, owning a total of 29,025 shares after acquiring an additional 27,440 shares.
This represents approximately 4.2% of Connective Capital Management LLC's holdings, making it their 7th biggest holding. The value of their NVIDIA holdings is worth $5,808,000 as per the latest SEC filing.
Other notable investors have also increased their stakes in NVIDIA during the second quarter. Waverly Advisors LLC raised its stake by 8.7%, owning a total of 1,443,734 shares valued at $288,877,000. Carmignac Gestion grew its stake by 5.0% to own 4,795,726 shares valued at $959,397,000.
NVIDIA's stock price has been on the rise, with a current ratio of 4.59 and a quick ratio of 3.85. The company has a market capitalization of $5.42 trillion and a P/E ratio of 28.45.