14,766 Nutanix $NTNX Shares Sold by Kopp Family Office LLC

Key Points

• Kopp Family Office reduced its Nutanix position by 34%, selling 14,766 shares in the third quarter and retaining 28,715 shares valued at approximately $2.02 million. Institutional investors collectively own 85.25% of the company.
• Nutanix insiders sold 674,351 shares worth roughly $49.7 million over the past three months, including substantial sales by CEO Rajiv Ramaswami and CFO Rukmini Sivaraman.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $73.07. Nutanix recently beat quarterly earnings and revenue estimates, reporting $0.60 EPS and $757.08 million in revenue.

Kopp Family Office LLC lowered its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 34.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 28,715 shares of the technology company's stock after selling 14,766 shares during the period. Nutanix accounts for 1.1% of Kopp Family Office LLC's portfolio, making the stock its 11th biggest holding. Kopp Family Office LLC's holdings in Nutanix were worth $2,022,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in Nutanix by 1.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,460 shares of the technology company's stock valued at $666,000 after purchasing an additional 155 shares during the period. Parkside Financial Bank & Trust grew its position in Nutanix by 43.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company's stock worth $29,000 after purchasing an additional 176 shares during the last quarter. CoreCap Advisors LLC grew its position in Nutanix by 28.6% in the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company's stock worth $46,000 after purchasing an additional 200 shares during the last quarter. Doliver Advisors LP increased its stake in shares of Nutanix by 3.0% in the third quarter. Doliver Advisors LP now owns 7,657 shares of the technology company's stock valued at $539,000 after purchasing an additional 221 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of Nutanix by 41.7% in the third quarter. V Square Quantitative Management LLC now owns 876 shares of the technology company's stock valued at $62,000 after purchasing an additional 258 shares during the period. Institutional investors own 85.25% of the company's stock.

Insiders Place Their Bets

In other news, CEO Rajiv Ramaswami sold 75,045 shares of the company's stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $74.00, for a total value of $5,553,330.00. Following the completion of the sale, the chief executive officer directly owned 414,339 shares of the company's stock, valued at approximately $30,661,086. This represents a 15.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 232,712 shares of the stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $74.55, for a total transaction of $17,348,679.60. Following the completion of the transaction, the chief financial officer owned 92,775 shares of the company's stock, valued at $6,916,376.25. This trade represents a 71.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 674,351 shares of company stock worth $49,736,524. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NTNX. Piper Sandler reaffirmed an "overweight" rating and set a $75.00 price target (up from $60.00) on shares of Nutanix in a report on Thursday, August 27th. Needham & Company LLC assumed coverage on Nutanix in a research report on Monday, September 28th. They set a "buy" rating and a $90.00 price objective for the company. Zacks Research lowered Nutanix from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Bank of America reissued a "buy" rating on shares of Nutanix in a report on Thursday, August 27th. Finally, KeyCorp raised their target price on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.07.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $70.11 on Thursday. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $75.98. The firm's 50-day simple moving average is $68.91 and its 200 day simple moving average is $56.20. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.92. The stock has a market cap of $18.97 billion, a P/E ratio of 13.59, a P/E/G ratio of 3.38 and a beta of 0.64.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.11. The business had revenue of $757.08 million during the quarter, compared to the consensus estimate of $738.27 million. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. Equities analysts expect that Nutanix will post 1.17 EPS for the current year.

About Nutanix

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company's offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.

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