The hedge fund has shown great interest in Tech Giant Nvidia (NVDA) stocks, taking advantage of the company’s advantage and growth prospects in AI-powered chips and graphics processors. With increasing demand for high-performance computing, Nvidia’s stock has become a favorite among institutional investors. In total, 22 hedge funds have recently raised their positions in the NVDA, while 11 have reduced their positions. Let’s take a closer look at these hedge funds.
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Hedge funds make big moves on Nvidia
Let’s take a look at two hedge funds that have increased NVDA shareholdings by over 1 million shares.
Bridgewater Associates, LP – Raydario-led Bridgewater Associates made a notable move, including Nvidia, adding 1.26 million shares.
Sands Capital Management LLC – Four-Star Rated Sands Capital, led by Frank Sands, has increased its position at Nvidia by 1.02 million shares. Other notable holdings of Sands Capital include Amazon (AMZN) and Shopify (Shop).
Hedge funds reduce Nvidia’s shares
Meanwhile, these four hedge funds have reduced their holdings of NVDA shares by more than one million.
Fisher Asset Management LLC – Fisher Asset Management LLC, led by Ken Fisher, has reduced NVIDIA holdings by 1.6 million shares.
Alecta Pensionsforsakring – Sweden-based Alecta Pensionsforsakring has driven Nvidia significantly, reducing its position by 1.35 million shares.
Woodline Partners – Similarly, Michael Rockefeller’s Woodline Partners LP reduced its Nvidia interest and held 1.58 million shares.
Moore Capital Management – Louis Moore Bacon’s Moore Capital Management LP reduced its NVIDIA exposure by selling 1.7 million shares.
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Is Nvidia a good purchase now?
Overall, Wall Street has a strong buy consensus rating on NVDA stocks based on 37 purchases and three holds over the past three months. The average NVIDIA stock target of $179.03 means a 29% upside chance.
Over the past 12 months, NVDA stocks have skyrocketed almost 100%.
See more NVDA Analyst ratings
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