Massachusetts Financial Services Co. MA Decreases Stake in Nutanix (NASDAQ:NTNX)

Massachusetts Financial Services Co. MA reduced its stake in shares of Nutanix (NASDAQ:NTNX - Free Report) by 76.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,153 shares of the technology company's stock after selling 70,312 shares during the period. Massachusetts Financial Services Co. MA's holdings in Nutanix were worth $1,477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Nutanix by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock worth $1,568,447,000 after buying an additional 146,854 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nutanix by 6.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after purchasing an additional 268,400 shares in the last quarter. Geode Capital Management LLC boosted its position in Nutanix by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after acquiring an additional 163,874 shares during the last quarter. First Trust Advisors LP increased its position in shares of Nutanix by 9.3% in the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock valued at $214,055,000 after purchasing an additional 297,754 shares during the last quarter. Finally, Norges Bank acquired a new stake in Nutanix in the fourth quarter valued at $195,758,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NTNX shares. Raymond James Financial cut Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. KeyCorp initiated coverage on shares of Nutanix in a research note on Thursday, June 26th. They set an "overweight" rating and a $95.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Nutanix in a research report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price objective for the company. Susquehanna boosted their target price on shares of Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Thursday, May 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $88.00 price objective (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Two 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the sale, the director owned 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,552,549 shares of company stock worth $426,621,281 in the last quarter. 6.80% of the stock is currently owned by insiders.

Nutanix Stock Down 1.0%

NASDAQ NTNX traded down $0.78 during trading hours on Tuesday, reaching $74.37. 1,295,367 shares of the company were exchanged, compared to its average volume of 2,454,754. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36. The stock has a market capitalization of $19.94 billion, a P/E ratio of 152.74, a P/E/G ratio of 6.98 and a beta of 0.67. The business's 50 day simple moving average is $76.39 and its 200-day simple moving average is $70.90.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share 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 analyst estimates of $626.12 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutanix will post 0.31 earnings per share 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.