Billionaire investor Peter Thiel has dumped his entire stake in Nvidia (NVDA) ahead of the chipmaker’s upcoming third-quarter financial results on Nov. 19.
Thiel’s hedge fund, Thiel Macro, sold all 537,742 shares it held in Nvidia during this year’s third quarter, according to a regulatory filing with the Securities and Exchange Commission (SEC).
Thiel’s stake in Nvidia had been worth $100 million U.S.
News of the sale comes days before Nvidia is expected to report Q3 earnings per share (EPS) of $1.23 U.S. on revenue of $54.83 billion U.S.
Based in Silicon Valley, Thiel is an entrepreneur and venture capitalist who co-founded both PayPal (PYPL) and Palantir Technologies (PLTR).
He is the latest investor to either sell his entire stake in Nvidia’s stock or bet against its continued rise.
In recent days, it was also revealed that Japanese holding company SoftBank (SFTBY) had sold its entire holding of NVDA stock.
And investor Michael Burry of “The Big Short” fame revealed that he has a large short interest in Nvidia’s stock, which means that he’s betting on the share price falling.
The selling of Nvidia’s stock comes after the company’s share price has risen 38% this year to trade at $190.17 U.S. per share.
NVDA stock is currently trading at 54 times future earnings estimates, which is a rich multiple.
