Invesco Ltd. Sells 2,364,929 Shares of Nutanix $NTNX

Key Points

• Invesco Ltd. has reduced its stake in Nutanix (NASDAQ:NTNX) by 72.2%, selling 2,364,929 shares and leaving it with only 911,743 shares, valued at approximately $63.65 million.
• Notable insider transactions include Nutanix Director Groen Max Pieter De selling 5.48 million shares for approximately $421 million, resulting in a 50% decrease in their position.
• Nutanix reported a revenue of $638.98 million for the latest quarter, beating estimates, and its stock is currently trading with a consensus rating of "Moderate Buy" and an average price target of $91.00.

Invesco Ltd. decreased its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 72.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 911,743 shares of the technology company's stock after selling 2,364,929 shares during the quarter. Invesco Ltd. owned 0.34% of Nutanix worth $63,649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Colonial Trust Co SC purchased a new stake in Nutanix in the fourth quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after buying an additional 191 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in Nutanix in the first quarter worth approximately $30,000. Fifth Third Bancorp boosted its stake in Nutanix by 98.4% in the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock worth $35,000 after buying an additional 250 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Nutanix in the fourth quarter worth approximately $70,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NTNX shares. Citigroup upgraded Nutanix to a "positive" rating in a research report on Tuesday, August 5th. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price objective (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. The Goldman Sachs Group assumed coverage on Nutanix in a report on Tuesday, July 15th. They set a "buy" rating and a $95.00 target price for the company. Susquehanna upped their target price on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Finally, Raymond James Financial downgraded Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Insider Buying and Selling

In other news, CEO Rajiv Ramaswami sold 1,925 shares of the firm's stock in a transaction dated 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 owned 518,561 shares of the company's stock, valued at $38,892,075. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 5,491,492 shares of company stock worth $421,797,778 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Nutanix Stock Performance

Shares of NASDAQ NTNX traded down $1.55 during trading on Tuesday, hitting $67.91. The company had a trading volume of 2,008,545 shares, compared to its average volume of 2,488,522. The stock has a 50 day simple moving average of $73.75 and a 200 day simple moving average of $72.07. Nutanix has a 12 month low of $51.55 and a 12 month high of $83.36. The firm has a market capitalization of $18.21 billion, a P/E ratio of 140.02, a price-to-earnings-growth ratio of 4.79 and a beta of 0.71.

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