California State Teachers Retirement System Sells 9,554 Shares of Nutanix $NTNX

Key Points

• California State Teachers Retirement System reduced its Nutanix stake by 3.2%, selling 9,554 shares and retaining 291,810 shares valued at approximately $14.9 million. Institutional investors collectively own 85.25% of the company.
• Analyst sentiment remains favorable, with Nutanix receiving a “Moderate Buy” consensus rating and an average price target of $72.71. Recent targets range from $75 to $85, though Barclays maintained an “equal weight” rating.
• Nutanix reported quarterly EPS of $0.60, surpassing the $0.49 consensus estimate, while revenue rose 15.9% year over year to $757.08 million. Shares recently traded at $68.15, below the 12-month high of $79.76.

California State Teachers Retirement System lowered its stake in Nutanix (NASDAQ:NTNX - Free Report) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 291,810 shares of the technology company's stock after selling 9,554 shares during the period. California State Teachers Retirement System owned 0.11% of Nutanix worth $14,870,638 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. CX Institutional boosted its position in Nutanix by 134.6% during the second quarter. CX Institutional now owns 488 shares of the technology company's stock valued at $25,000 after purchasing an additional 280 shares in the last quarter. Western Wealth Management LLC acquired a new stake in Nutanix during the 1st quarter worth approximately $27,000. New Millennium Group LLC acquired a new stake in Nutanix in the 4th quarter valued at about $28,000. Covestor Ltd boosted its holdings in Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company's stock valued at $40,000 after acquiring an additional 324 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock valued at $42,000 after acquiring an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Analysts Set New Price Targets

NTNX has been the topic of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Nutanix in a report on Wednesday, June 24th. Bank of America restated a "buy" rating on shares of Nutanix in a research report on Thursday, August 27th. Rosenblatt Securities raised their target price on Nutanix from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Barclays raised their target price on Nutanix from $53.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, August 28th. Finally, UBS Group set a $85.00 price objective on shares of Nutanix in a report on Thursday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Nutanix has an average rating of "Moderate Buy" and a consensus price target of $72.71.

Nutanix Price Performance

Nutanix stock traded up $0.46 during mid-day trading on Tuesday, hitting $68.15. 812,329 shares of the company were exchanged, compared to its average volume of 3,912,605. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.80 and a quick ratio of 1.78. Nutanix has a 12-month low of $34.01 and a 12-month high of $79.76. The company has a market capitalization of $18.42 billion, a P/E ratio of 13.21, a PEG ratio of 3.74 and a beta of 0.62. The business's 50 day simple moving average is $62.02 and its two-hundred day simple moving average is $50.33.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.11. The business had revenue of $757.08 million for the quarter, compared to analyst estimates of $738.27 million. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Analysts forecast that Nutanix will post 1.02 earnings per share for the current fiscal year.

Nutanix Profile

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company's offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.

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