Connor Clark & Lunn Investment Management Ltd. Has $45.53 Million Stake in Nutanix (NASDAQ:NTNX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Nutanix by 21.3% in the first quarter, now holding approximately 0.24% of the company valued at about $45.5 million.
• Director Groen Max Pieter De sold over 5 million shares of Nutanix stock for approximately $421 million, reflecting a substantial decrease in their position.
• Nutanix reported an EPS of $0.42 in its latest quarterly earnings, surpassing analysts’ expectations, with a 21.8% increase in revenue year-over-year.

Connor Clark & Lunn Investment Management Ltd. decreased its position in Nutanix (NASDAQ:NTNX - Free Report) by 21.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 652,131 shares of the technology company's stock after selling 176,090 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.24% of Nutanix worth $45,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Nutanix by 69.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company's stock valued at $2,784,000 after acquiring an additional 16,374 shares during the period. Amalgamated Bank increased its holdings in Nutanix by 4.9% in the 1st quarter. Amalgamated Bank now owns 14,420 shares of the technology company's stock worth $1,007,000 after acquiring an additional 674 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Nutanix by 63.7% during the first quarter. GAMMA Investing LLC now owns 2,768 shares of the technology company's stock worth $193,000 after purchasing an additional 1,077 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Nutanix during the 1st quarter valued at approximately $2,596,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Nutanix during the 1st quarter valued at approximately $256,000. Institutional investors own 85.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NTNX shares. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Needham & Company LLC reiterated a "buy" rating and set a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Raymond James Financial downgraded Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. Citigroup upgraded Nutanix to a "positive" rating in a research note on Tuesday, August 5th. Finally, Susquehanna lifted their target price on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nutanix currently has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Nutanix Stock Up 0.8%

NASDAQ NTNX traded up $0.55 during mid-day trading on Tuesday, hitting $69.35. The stock had a trading volume of 2,929,098 shares, compared to its average volume of 2,501,946. Nutanix has a 52-week low of $49.99 and a 52-week high of $83.36. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 146.12, a P/E/G ratio of 4.99 and a beta of 0.71. The company has a 50 day simple moving average of $74.54 and a 200 day simple moving average of $71.99.

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

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the transaction, the chief financial officer directly owned 209,070 shares in the company, valued at $15,205,661.10. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 shares were 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 of the company's stock, valued at $420,954,747.08. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,491,492 shares of company stock valued at $421,797,778. Corporate insiders own 6.80% of the company's stock.

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.