Korea Investment CORP Trims Holdings in Nutanix $NTNX

Key Points

• Korea Investment CORP reduced its holdings in Nutanix by 1.6%, selling 3,605 shares and maintaining ownership of 220,873 shares valued at approximately $15.4 million.
• Insiders at Nutanix, including the CFO and CEO, have sold a total of 5,491,492 shares worth nearly $422 million over the past ninety days.
• Despite recent sales, several analysts issued "buy" ratings for Nutanix, with a consensus price target of $91.00 and a reported earnings per share of $0.42, surpassing expectations.

Korea Investment CORP reduced its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,873 shares of the technology company's stock after selling 3,605 shares during the period. Korea Investment CORP owned 0.08% of Nutanix worth $15,419,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Colonial Trust Co SC bought a new position in shares of Nutanix during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB grew its stake 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 worth $30,000 after buying an additional 191 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Nutanix in the 1st quarter worth approximately $30,000. SouthState Corp bought a new position in Nutanix during the 1st quarter valued at approximately $32,000. Finally, Fifth Third Bancorp raised its stake in Nutanix by 98.4% during the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock valued at $35,000 after buying an additional 250 shares during the last quarter. Institutional investors own 85.25% of the company's stock.

Insider Activity at Nutanix

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the transaction, the chief financial officer directly owned 209,070 shares of the company's stock, valued at $15,205,661.10. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajiv Ramaswami sold 1,925 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total value of $144,375.00. Following the completion of the transaction, the chief executive officer owned 518,561 shares in the company, valued at approximately $38,892,075. This trade represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,491,492 shares of company stock worth $421,797,778. Company insiders own 6.80% of the company's stock.

Nutanix Stock Performance

NASDAQ NTNX opened at $69.63 on Thursday. Nutanix has a one year low of $51.55 and a one year high of $83.36. The stock has a 50-day moving average of $73.53 and a 200 day moving average of $72.02. The company has a market capitalization of $18.67 billion, a price-to-earnings ratio of 138.59, a PEG ratio of 4.74 and a beta of 0.71.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (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 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 firm posted $0.28 EPS. The business's quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on NTNX shares. The Goldman Sachs Group initiated coverage on Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 target price on the stock. Citigroup upgraded shares of Nutanix to a "positive" rating in a research note on Tuesday, August 5th. Susquehanna raised their price objective 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. KeyCorp initiated coverage on shares of Nutanix in a report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price for the company. Finally, Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

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.

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