Mackenzie Financial Corp Sells 230,550 Shares of Nutanix (NASDAQ:NTNX)

Key Points

• Mackenzie Financial Corp reduced its stake in Nutanix by 42.9%, owning 306,284 shares valued at approximately $21.38 million after selling 230,550 shares in the first quarter.
• Insiders, including CEO Rajiv Ramaswami and CFO Rukmini Sivaraman, have sold a total of 5.55 million shares in the last three months, amounting to a value of around $426.6 million.
• Brokerages have given Nutanix a consensus rating of "Moderate Buy" with a target price averaging $91.00, with some firms setting price targets as high as $95.00.

Mackenzie Financial Corp trimmed its stake in shares of Nutanix (NASDAQ:NTNX - Free Report) by 42.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,284 shares of the technology company's stock after selling 230,550 shares during the quarter. Mackenzie Financial Corp owned about 0.11% of Nutanix worth $21,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. True Wealth Design LLC lifted its stake in shares of Nutanix by 13.2% in the fourth quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after buying an additional 146 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in Nutanix by 0.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock valued at $2,134,000 after buying an additional 159 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Nutanix by 4.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company's stock worth $291,000 after purchasing an additional 177 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Nutanix by 78.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Nutanix by 5.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company's stock worth $220,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Insider Buying and Selling

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 518,561 shares of the company's stock, valued at approximately $38,892,075. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the transaction, the director directly owned 38,330 shares in the company, valued at approximately $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. Insiders own 6.80% of the company's stock.

Nutanix Stock Performance

Shares of NTNX traded down $3.06 during mid-day trading on Friday, reaching $72.11. The company had a trading volume of 2,136,813 shares, compared to its average volume of 1,793,654. The company's 50 day simple moving average is $75.14 and its 200 day simple moving average is $71.61. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.36. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 147.16, a P/E/G ratio of 6.65 and a beta of 0.71.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share 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 company had revenue of $638.98 million for the quarter, compared to analysts' expectations of $626.12 million. During the same period in the previous year, the business posted $0.28 earnings per share. The business's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTNX. KeyCorp began coverage on shares of Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $88.00 target price (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Raymond James Financial cut shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.