Citigroup Inc. Decreases Stake in Nutanix $NTNX

Key Points

• Citigroup Inc. reduced its holdings in Nutanix by 4.4% in the first quarter, owning 179,433 shares valued at approximately $12.5 million after selling 8,344 shares.
• Major institutional investors like Assenagon Asset Management and GAMMA Investing significantly increased their stakes in Nutanix, with Assenagon raising its position by 69.7%.
• Analyst ratings for Nutanix remain positive, with a consensus target price of $91.00 and the majority rating it as a "Moderate Buy" according to MarketBeat.

Citigroup Inc. decreased its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 179,433 shares of the technology company's stock after selling 8,344 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Nutanix worth $12,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NTNX. Colonial Trust Co SC bought a new position in shares of Nutanix during the 4th quarter worth $28,000. MassMutual Private Wealth & Trust FSB grew 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 worth $30,000 after acquiring an additional 191 shares during the period. GW&K Investment Management LLC bought a new position in shares of Nutanix during the 1st quarter worth $30,000. Fifth Third Bancorp grew its stake in shares of Nutanix by 98.4% during the 1st quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock worth $35,000 after acquiring an additional 250 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in Nutanix in the 4th quarter worth about $70,000. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Up 1.0%

Shares of NASDAQ NTNX traded up $0.72 during trading hours on Monday, reaching $69.40. 774,390 shares of the stock traded hands, compared to its average volume of 2,484,535. The company has a market capitalization of $18.60 billion, a P/E ratio of 140.16, a price-to-earnings-growth ratio of 4.79 and a beta of 0.71. Nutanix has a 52-week low of $51.25 and a 52-week high of $83.36. The company's 50-day simple moving average is $73.87 and its two-hundred day simple moving average is $72.06.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on NTNX shares. Raymond James Financial downgraded Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Piper Sandler restated an "overweight" rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Susquehanna raised their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Wall Street Zen cut Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Finally, KeyCorp began coverage on Nutanix in a report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target on the stock. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Insider Transactions at Nutanix

In other Nutanix 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 value of $144,375.00. Following the transaction, the chief executive officer directly owned 518,561 shares of the company's stock, valued at $38,892,075. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the transaction, the director directly owned 38,330 shares in the company, valued at $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,491,492 shares of company stock valued at $421,797,778. 6.80% of the stock is currently owned by corporate insiders.

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.