Convergence Investment Partners LLC Has $2.42 Million Stock Position in Nutanix (NASDAQ:NTNX)

Convergence Investment Partners LLC lowered its stake in Nutanix (NASDAQ:NTNX - Free Report) by 24.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,589 shares of the technology company's stock after selling 11,143 shares during the period. Convergence Investment Partners LLC's holdings in Nutanix were worth $2,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in Nutanix in the 4th quarter valued at approximately $234,000. Avantax Advisory Services Inc. increased its holdings in Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock worth $349,000 after acquiring an additional 188 shares during the period. Commonwealth Equity Services LLC grew its stake in Nutanix by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,933 shares of the technology company's stock worth $1,220,000 after buying an additional 544 shares in the last quarter. Natixis Advisors LLC boosted its position in Nutanix by 20.1% during the 4th quarter. Natixis Advisors LLC now owns 23,247 shares of the technology company's stock valued at $1,422,000 after buying an additional 3,888 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock worth $27,000 after purchasing an additional 418 shares during the period. 85.25% of the stock is owned by institutional investors.

Nutanix Stock Performance

Shares of Nutanix stock traded up $0.69 during trading on Friday, hitting $74.69. 1,920,183 shares of the company's stock were exchanged, compared to its average volume of 1,920,172. Nutanix has a 52-week low of $43.35 and a 52-week high of $83.36. The business has a 50-day simple moving average of $75.75 and a 200-day simple moving average of $71.19. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 151.02, a PEG ratio of 6.84 and a beta of 0.67.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on NTNX shares. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price target on shares of Nutanix in a research report on Thursday, May 29th. Susquehanna lifted their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. The Goldman Sachs Group assumed coverage on shares of Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price objective on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Insider Activity at Nutanix

In other Nutanix news, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total transaction of $546,000.00. Following the sale, the director directly owned 38,330 shares of the company's stock, valued at $2,989,740. The trade was a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the sale, the director directly owned 5,480,468 shares of the company's stock, valued at $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,552,549 shares of company stock valued at $426,621,281 over the last three months. Insiders own 6.80% of the company's stock.

Nutanix Company Profile

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.