First Trust Advisors LP Reduces Stock Position in Nutanix $NTNX

Key Points

• First Trust Advisors LP cut its Nutanix stake by 10.9% in the first quarter, selling 397,353 shares and leaving it with 3.25 million shares worth about $123.5 million.
• Nutanix reported better-than-expected quarterly results, posting EPS of $0.47 versus $0.35 expected and revenue of $703.1 million, up 10% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $60; several firms recently raised targets or upgraded ratings.

First Trust Advisors LP lessened its holdings in Nutanix (NASDAQ:NTNX - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,249,923 shares of the technology company's stock after selling 397,353 shares during the quarter. First Trust Advisors LP owned approximately 1.23% of Nutanix worth $123,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New Millennium Group LLC purchased a new position in Nutanix in the 4th quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in Nutanix in the fourth quarter worth approximately $39,000. Covestor Ltd increased its holdings in Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. increased its holdings in Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock worth $42,000 after purchasing an additional 502 shares during the period. Finally, Frazier Financial Advisors LLC raised its position in Nutanix by 1,063.8% during the 1st quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company's stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $52.63 on Friday. Nutanix has a 1-year low of $34.01 and a 1-year high of $82.42. The business has a fifty day moving average price of $50.76 and a 200 day moving average price of $44.89. The stock has a market capitalization of $14.23 billion, a P/E ratio of 55.40, a price-to-earnings-growth ratio of 4.70 and a beta of 0.61.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.12. The business had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The firm's revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts anticipate that Nutanix will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NTNX shares. Bank of America upped their target price on Nutanix from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Morgan Stanley lifted their price objective on Nutanix from $53.00 to $55.00 and gave the company an "equal weight" rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Nutanix from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. UBS Group upped their price objective on shares of Nutanix from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $60.00 target price on shares of Nutanix in a research report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company's product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.

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