Allianz Asset Management GmbH Has $6.46 Million Stock Holdings in Nutanix (NASDAQ:NTNX)

Key Points

• Allianz Asset Management GmbH reduced its stake in Nutanix by 34.9%, holding 92,527 shares valued at approximately $6.46 million after selling 49,610 shares in the first quarter.
• Nutanix reported a quarterly earnings per share (EPS) of $0.42, exceeding analysts' estimates of $0.38, with revenues up 21.8% year-over-year at $638.98 million.
• Insiders, including the CEO and CFO, have sold a combined total of over 5.5 million shares worth approximately $426.6 million in the last 90 days, indicating a significant decrease in their ownership positions.

Allianz Asset Management GmbH decreased its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 34.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,527 shares of the technology company's stock after selling 49,610 shares during the quarter. Allianz Asset Management GmbH's holdings in Nutanix were worth $6,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in shares of Nutanix during the fourth quarter valued at about $234,000. Commonwealth Equity Services LLC lifted its holdings in shares of Nutanix by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,933 shares of the technology company's stock valued at $1,220,000 after buying an additional 544 shares during the period. LPL Financial LLC boosted its stake in shares of Nutanix by 4.8% during the 4th quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock worth $4,389,000 after acquiring an additional 3,276 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Nutanix during the 4th quarter worth $205,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Nutanix during the 4th quarter worth $9,111,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on NTNX shares. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price target on shares of Nutanix in a report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price target (up previously from $76.00) on shares of Nutanix in a report on Thursday, May 29th. The Goldman Sachs Group initiated coverage on shares of Nutanix in a research report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price target on the stock. Susquehanna increased their price objective on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Finally, KeyCorp assumed coverage on shares of Nutanix in a research note on Thursday, June 26th. They set an "overweight" rating and a $95.00 target price on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nutanix has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Nutanix Price Performance

NTNX traded down $0.22 on Thursday, hitting $76.54. The company had a trading volume of 206,747 shares, compared to its average volume of 2,494,151. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.36. The stock has a market cap of $20.52 billion, a price-to-earnings ratio of 151.59, a price-to-earnings-growth ratio of 6.98 and a beta of 0.67. The company's fifty day moving average price is $75.39 and its 200 day moving average price is $71.46.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The firm had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The company's quarterly revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 1,925 shares of Nutanix stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the sale, the chief executive officer directly owned 518,561 shares of the company's stock, valued at approximately $38,892,075. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the transaction, the director owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,552,549 shares of company stock valued at $426,621,281. Corporate insiders own 6.80% of the company's stock.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.