In this piece, we will take a look at the top five metaverse stocks you can consider investing in. If you want an overview of the industry and details for these companies, head on over to 10 Metaverse Stocks to Invest In.
5. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 83
NVIDIA Corporation (NASDAQ:NVDA) is the world’s leading designer of graphics processing units (GPUs). These are computing products responsible for rendering and visualizing virtual applications such as video games and other software. The company has dabbled in the metaverse software industry, by offering the NVIDIA Omniverse, which is a platform that allows companies to virtually simulate production and other environments. Additionally, its GPUs power the metaverse, as they are responsible for creating immersive virtual experiences.
In its fiscal Q3, NVIDIA Corporation (NASDAQ:NVDA) brought in $7 billion in revenue and $1.17 in non-GAAP EPS, beating analyst estimates for both. Tigress Financial raised the company’s price target to $400 from $230 in December 20221, outlining that the meta and omniverses hold strong potential for NVIDIA Corporation (NASDAQ:NVDA).
Insider Monkey’s Q3 2021 survey of 867 hedge funds revealed that 83 had owned NVIDIA Corporation (NASDAQ:NVDA) shares. The company’s market capitalization stood at $741 billion as trading ended on December 23rd, 2021. Insider Monkey’s Q3 2021 survey of 867 hedge funds revealed that 83 owned the company’s shares.
NVIDIA Corporation (NASDAQ:NVDA)’s largest investor is Rajiv Jain’s GQG Partners who owns 15 million shares worth $3 billion.
Vulcan Value Partners mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2021 investor letterer. It outlined that:
“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”