Neuberger Berman Group LLC Lowers Stock Position in Nutanix $NTNX

Key Points

• Neuberger Berman Group LLC reduced its stake in Nutanix by 42.1%, now owning approximately 0.09% of the company worth $16.94 million.
• Insiders at Nutanix have sold over 5.4 million shares in the last three months, totaling nearly $422 million, while institutional investors own 85.25% of the company's stock.
• Nutanix reported a quarterly earnings of $0.42 EPS, exceeding analyst expectations, with revenues rising 21.8% year-over-year to $638.98 million.

Neuberger Berman Group LLC lessened its position in Nutanix (NASDAQ:NTNX - Free Report) by 42.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 242,716 shares of the technology company's stock after selling 176,530 shares during the period. Neuberger Berman Group LLC owned approximately 0.09% of Nutanix worth $16,944,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Contour Asset Management LLC bought a new stake in Nutanix during the fourth quarter worth $87,318,000. Nuveen LLC purchased a new position in shares of Nutanix in the first quarter valued at $86,949,000. Perpetual Ltd grew its position in shares of Nutanix by 10,205.2% in the first quarter. Perpetual Ltd now owns 875,946 shares of the technology company's stock valued at $61,150,000 after purchasing an additional 867,446 shares in the last quarter. Cadian Capital Management LP grew its position in shares of Nutanix by 68.5% in the fourth quarter. Cadian Capital Management LP now owns 1,455,792 shares of the technology company's stock valued at $89,065,000 after purchasing an additional 591,892 shares in the last quarter. Finally, Annex Advisory Services LLC purchased a new position in Nutanix during the first quarter worth about $37,294,000. Institutional investors and hedge funds own 85.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price objective on shares of Nutanix in a report on Thursday, May 29th. KeyCorp began coverage on Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price for the company. The Goldman Sachs Group began coverage on Nutanix in a research note on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price target on the stock. Susquehanna upped their price target on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley restated an "overweight" rating and issued a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.00.

Insider Activity

In other Nutanix news, Director Groen Max Pieter De sold 5,480,467 shares of the business's stock in a transaction on 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 transaction, the director owned 5,480,468 shares in the company, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction 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 trade represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,491,492 shares of company stock valued at $421,797,778. Insiders own 6.80% of the company's stock.

Nutanix Trading Down 2.3%

Shares of NASDAQ:NTNX traded down $1.57 during mid-day trading on Tuesday, reaching $67.89. The stock had a trading volume of 1,077,030 shares, compared to its average volume of 2,482,232. The business's 50 day moving average price is $73.75 and its 200 day moving average price is $72.07. Nutanix has a 1 year low of $51.55 and a 1 year high of $83.36. The company has a market cap of $18.20 billion, a P/E ratio of 140.02, a price-to-earnings-growth ratio of 4.79 and a beta of 0.71.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $638.98 million during the quarter, compared to analyst estimates of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%.The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. Analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

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.