Bank of Nova Scotia Reduces Stock Position in Nutanix (NASDAQ:NTNX)

Bank of Nova Scotia lessened its holdings in Nutanix (NASDAQ:NTNX - Free Report) by 99.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,497 shares of the technology company's stock after selling 2,002,241 shares during the quarter. Bank of Nova Scotia's holdings in Nutanix were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GW&K Investment Management LLC purchased a new position in shares of Nutanix during the first quarter worth $30,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Nutanix by 78.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after buying an additional 191 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Nutanix in the 4th quarter valued at about $28,000. Fifth Third Bancorp boosted its stake in shares of Nutanix by 98.4% in the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock worth $35,000 after buying an additional 250 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Nutanix in the fourth quarter worth about $70,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nutanix

In other news, Director Groen Max Pieter De sold 5,480,467 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the transaction, the director directly owned 5,480,468 shares in the company, valued at $420,954,747.08. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the sale, the chief financial officer owned 209,070 shares of the company's stock, valued at $15,205,661.10. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,552,549 shares of company stock worth $426,621,281 in the last quarter. Insiders own 6.80% of the company's stock.

Nutanix Stock Performance

Shares of NTNX stock opened at $72.58 on Friday. Nutanix has a fifty-two week low of $47.30 and a fifty-two week high of $83.36. The stock's fifty day moving average is $74.78 and its two-hundred day moving average is $71.84. The firm has a market capitalization of $19.46 billion, a P/E ratio of 154.49, a PEG ratio of 5.28 and a beta of 0.71.

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

Wall Street Analyst Weigh In

NTNX has been the topic of several recent research reports. Raymond James Financial lowered Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Needham & Company LLC reissued a "buy" rating and set a $92.00 price target on shares of Nutanix in a report on Thursday, May 29th. Wall Street Zen cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Citigroup upgraded shares of Nutanix to a "positive" rating in a research report on Tuesday. Finally, KeyCorp started coverage on Nutanix in a research report on Thursday, June 26th. They set an "overweight" rating and a $95.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Nutanix presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

About Nutanix

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.

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