KBC Group NV Sells 24,215 Shares of Nutanix $NTNX

Key Points

• KBC Group NV cut its Nutanix stake by 68% in the first quarter, selling 24,215 shares and leaving it with 11,396 shares valued at about $433,000.
• Institutional interest remains broad, with several other funds adding to or initiating positions; overall, 85.25% of Nutanix shares are held by institutional investors.
• Wall Street sentiment is constructive: analysts rate Nutanix a Moderate Buy on average, with a consensus price target of $60, while the stock recently traded up 4.6% and the company beat its latest earnings and revenue estimates.

KBC Group NV reduced its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 68.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,396 shares of the technology company's stock after selling 24,215 shares during the quarter. KBC Group NV's holdings in Nutanix were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in Nutanix in the 4th quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new position in Nutanix during the 4th quarter valued at about $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 in the last quarter. 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 in the last quarter. Finally, Frazier Financial Advisors LLC raised its stake in shares of Nutanix by 1,063.8% in the first quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company's stock worth $42,000 after purchasing an additional 1,000 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the topic of a number of recent research reports. Wall Street Zen upgraded Nutanix from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Royal Bank Of Canada upped their price target on Nutanix from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Barclays increased their price target on Nutanix from $47.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nutanix in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Nutanix from $44.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Nutanix Trading Up 4.6%

Shares of Nutanix stock opened at $55.04 on Friday. The business's fifty day simple moving average is $50.94 and its 200 day simple moving average is $44.96. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42. The firm has a market capitalization of $14.88 billion, a P/E ratio of 57.94, a price-to-earnings-growth ratio of 4.85 and a beta of 0.61.

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

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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