Billionaires Unloaded These 24 Stocks In Q2

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10. Nvidia (NVDA, $510.92)

PC Mag

This was the second big sale from Bailie Gifford in Q2, and is a prime example of profit-taking by the Edinburgh-based investment manager. The sale of nearly 2 million Nvidia shares during the second quarter reduced its weighting in the chipmaker from 2.1% in Q1 to 1.6% in Q2. Bailie Gifford has been slowly collecting NVDA shares since the first quarter of 2016 at an average price of $86.32 per share. The sale of nearly 2 million shares at an average price of $300 during Q2 would mean the investment firm netted more than $420 million in capital gains and still left it with 5.4 million shares worth more than $2.7 billion. Nvidia announced in August that their data-center business delivered more revenue than its gaming business for the first time in history. This is largely thanks to the acquisition of Mellanox Technologies in late April. NVDA shares trade at almost 50 times next year’s earnings estimates, which makes it the third priciest stock in the PHLX Semiconductor Index. It is still rated a “Buy” by 34 out of 42 analysts that cover the company, with its stock up by 117% in 2020.