Contour Asset Management LLC Sells 389,522 Shares of Nutanix $NTNX

Key Points

• Contour Asset Management LLC reduced its stake in Nutanix by 27.3% during the first quarter, resulting in ownership of 1,037,716 shares valued at approximately $72.4 million.
• Several hedge funds, including Nuveen LLC and Perpetual Ltd, made significant adjustments to their Nutanix holdings, indicating strong institutional interest in the company.
• Nutanix reported a 19.2% year-over-year increase in quarterly revenue, with earnings per share of $0.37, exceeding market expectations.

Contour Asset Management LLC lessened its stake in Nutanix (NASDAQ:NTNX - Free Report) by 27.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,037,716 shares of the technology company's stock after selling 389,522 shares during the period. Nutanix comprises about 2.9% of Contour Asset Management LLC's portfolio, making the stock its 13th biggest position. Contour Asset Management LLC owned 0.39% of Nutanix worth $72,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NTNX. Nuveen LLC bought a new stake in shares of Nutanix in the 1st quarter valued at about $86,949,000. Perpetual Ltd grew its position in shares of Nutanix by 10,205.2% in the 1st quarter. Perpetual Ltd now owns 875,946 shares of the technology company's stock valued at $61,150,000 after buying an additional 867,446 shares during the last quarter. Cadian Capital Management LP grew its position in shares of Nutanix by 68.5% in the 4th quarter. Cadian Capital Management LP now owns 1,455,792 shares of the technology company's stock valued at $89,065,000 after buying an additional 591,892 shares during the last quarter. Annex Advisory Services LLC bought a new stake in shares of Nutanix in the 1st quarter valued at about $37,294,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Nutanix by 4,832.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 506,418 shares of the technology company's stock valued at $35,353,000 after buying an additional 496,150 shares during the last quarter. Institutional investors own 85.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NTNX. Susquehanna upped their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Piper Sandler reiterated an "overweight" rating and issued a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Wall Street Zen lowered Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Morgan Stanley restated an "overweight" rating and set a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Finally, Needham & Company LLC cut their target price on Nutanix from $92.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Nutanix currently has a consensus rating of "Moderate Buy" and an average price target of $89.07.

Insider Buying and Selling

In related news, CEO Rajiv Ramaswami sold 1,925 shares of Nutanix stock in a transaction 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 sale, the chief executive officer directly owned 518,561 shares in the company, valued at approximately $38,892,075. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 2,100 shares of Nutanix stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the sale, the chief financial officer 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 disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.

Nutanix Price Performance

Shares of NTNX stock traded up $1.25 during trading hours on Friday, reaching $69.92. The company had a trading volume of 2,854,894 shares, compared to its average volume of 3,400,558. Nutanix has a 12 month low of $54.66 and a 12 month high of $83.36. The business has a fifty day simple moving average of $72.19 and a 200-day simple moving average of $71.79. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 109.25, a price-to-earnings-growth ratio of 6.73 and a beta of 0.59.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Nutanix had a negative return on equity of 27.63% and a net margin of 7.42%.The company had revenue of $653.27 million for the quarter, compared to analyst estimates of $642.48 million. During the same quarter last year, the company earned $0.27 earnings per share. The company's revenue for the quarter was up 19.2% on a year-over-year basis. Nutanix has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities research analysts expect that Nutanix will post 0.31 earnings per share for the current year.

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.