King Luther Capital Management Corp Acquires 54,217 Shares of Nutanix (NASDAQ:NTNX)

Key Points

• King Luther Capital Management Corp has increased its stake in Nutanix by 8.5%, acquiring an additional 54,217 shares to reach a total of 694,343 shares, valued at approximately $48.47 million.
• Nutanix's recent earnings report showed an EPS of $0.42, exceeding estimates, with revenues of $638.98 million, representing a year-over-year increase of 21.8%.
• Institutional investors now own 85.25% of Nutanix's stock, while analysts have varying ratings, with an average target price of $91.00, reflecting cautious optimism on the company's performance.

King Luther Capital Management Corp raised its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 694,343 shares of the technology company's stock after acquiring an additional 54,217 shares during the period. King Luther Capital Management Corp owned approximately 0.26% of Nutanix worth $48,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NTNX. Colonial Trust Co SC bought a new stake in shares of Nutanix during the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Nutanix by 78.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after buying an additional 191 shares in the last quarter. GW&K Investment Management LLC bought a new stake in shares of Nutanix in the 1st quarter valued at $30,000. Fifth Third Bancorp increased its position in shares of Nutanix by 98.4% in the 1st quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock valued at $35,000 after buying an additional 250 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Nutanix in the 4th quarter valued at $70,000. Institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Nutanix stock opened at $71.60 on Friday. The firm has a 50-day moving average of $74.71 and a 200-day moving average of $71.92. Nutanix has a one year low of $48.54 and a one year high of $83.36. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 146.12, a P/E/G ratio of 4.99 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 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 during the quarter, compared to the consensus estimate of $626.12 million. During the same period in the prior year, the business posted $0.28 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts expect that Nutanix will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Susquehanna upped their price objective on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of Nutanix in a research report on Thursday, May 29th. Raymond James Financial cut shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Finally, Citigroup upgraded shares of Nutanix to a "positive" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.00.

Insider Buying and Selling at Nutanix

In other news, Director Virginia Gambale sold 7,000 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the sale, the director directly owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total transaction of $152,733.00. Following the completion of the sale, the chief financial officer directly owned 209,070 shares in the company, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. Corporate insiders own 6.80% of the company's stock.

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.

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