Mystic Asset Management Trims NVIDIA Stake by 9.3% in Q2

Mystic Asset Management Inc. reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 9.3% during the second quarter, selling 9,435 shares. The firm now holds 91,823 shares, which represent approximately 3.9% of its portfolio, making NVIDIA its third-largest holding. The value of Mystic Asset Management's NVIDIA holdings was $18,373,000 at the end of the quarter.

Several other institutional investors also adjusted their positions in NVIDIA. LightSquare Wealth Management LLC increased its stake by 0.3%, while Defender Capital LLC, Kooman & Associates, and Roof Eidam Maycock Peralta LLC each raised their stakes by small percentages. Persium Advisors LLC made the most significant increase, boosting its holdings by 3.5%. Collectively, hedge funds and institutional investors own 65.27% of NVIDIA's stock.

Analysts have recently updated their ratings and price targets for NVIDIA. Cantor Fitzgerald reaffirmed an "overweight" rating with a $350 price objective, while Rosenblatt Securities set a $390 target. Morgan Stanley, however, took a more cautious stance with a $230 price objective. The stock currently has an average "buy" rating and an average target price of $320.71.

Insider activity also made headlines, with Director Mark Stevens selling 622,239 shares for $144,122,997.18, and EVP Timothy Teter selling 30,460 shares for $6,786,488. Insiders collectively sold 1,766,118 shares worth $399,450,353 over the past ninety days. Corporate insiders now own 3.94% of the company's stock.