Nisa Investment Advisors LLC Trims Position in Nutanix (NASDAQ:NTNX)

Nisa Investment Advisors LLC decreased its position in Nutanix (NASDAQ:NTNX - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,516 shares of the technology company's stock after selling 8,367 shares during the quarter. Nisa Investment Advisors LLC's holdings in Nutanix were worth $3,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC boosted its stake in shares of Nutanix by 23.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 23,104 shares of the technology company's stock worth $1,613,000 after acquiring an additional 4,375 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in Nutanix by 26.4% in the 1st quarter. Arcadia Investment Management Corp MI now owns 8,150 shares of the technology company's stock worth $569,000 after purchasing an additional 1,700 shares during the period. Values First Advisors Inc. lifted its position in Nutanix by 66.7% during the first quarter. Values First Advisors Inc. now owns 7,431 shares of the technology company's stock valued at $520,000 after purchasing an additional 2,973 shares in the last quarter. Liberty One Investment Management LLC grew its holdings in Nutanix by 10.9% during the first quarter. Liberty One Investment Management LLC now owns 3,104 shares of the technology company's stock valued at $217,000 after purchasing an additional 304 shares during the period. Finally, Penserra Capital Management LLC increased its position in Nutanix by 5.6% in the first quarter. Penserra Capital Management LLC now owns 35,444 shares of the technology company's stock worth $2,474,000 after buying an additional 1,866 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. KeyCorp began coverage on shares of Nutanix in a report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price objective for the company. Finally, Piper Sandler reissued an "overweight" rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.71.

Insiders Place Their Bets

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the business's 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 completion of the transaction, the chief financial officer owned 209,070 shares in the company, valued at $15,205,661.10. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were 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 $2,989,740. This represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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.

Nutanix Stock Performance

Shares of Nutanix stock opened at $72.40 on Friday. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of 147.76, a price-to-earnings-growth ratio of 6.69 and a beta of 0.67. The stock has a 50 day moving average price of $76.33 and a 200-day moving average price of $70.42. Nutanix has a one year low of $43.35 and a one year high of $83.36.

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 the consensus estimate of $0.38 by $0.04. The company had revenue of $638.98 million during the quarter, compared to analyst estimates of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. Nutanix's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. Sell-side analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal 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.

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