Nutanix (NASDAQ:NTNX) Holdings Cut by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA has reduced its stake in Nutanix by 8.5%, now owning approximately 1.24% of the company's shares valued at $231.27 million after selling over 300,000 shares in Q1.
• Several analysts have recently placed **buy ratings** on Nutanix, with price targets ranging from **$92.00 to $95.00**, indicating a consensus rating of "Moderate Buy" and an average target price of $91.00.
• Insiders, including CEO Rajiv Ramaswami, have sold significant portions of their shares recently, with a total of **5.5 million shares** sold over the last three months, representing a decrease in their overall ownership.

Primecap Management Co. CA decreased its stake in Nutanix (NASDAQ:NTNX - Free Report) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,312,903 shares of the technology company's stock after selling 308,550 shares during the quarter. Primecap Management Co. CA owned approximately 1.24% of Nutanix worth $231,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC bought a new position in Nutanix during the first quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB raised its position in Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Colonial Trust Co SC bought a new position in Nutanix during the fourth quarter valued at approximately $28,000. Fifth Third Bancorp raised its position 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 acquiring an additional 250 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Nutanix during the first quarter valued at approximately $74,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NTNX. The Goldman Sachs Group began coverage on shares of Nutanix in a research report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. KeyCorp started coverage on shares of Nutanix in a research report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price objective on the stock. Citigroup raised shares of Nutanix to a "positive" rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $92.00 price target on shares of Nutanix in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Insider Buying and Selling at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of Nutanix stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total transaction of $144,375.00. Following the sale, the chief executive officer owned 518,561 shares in the company, valued at $38,892,075. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of Nutanix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the sale, the director owned 5,480,468 shares in the company, valued at $420,954,747.08. This 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 over the last three months. 6.80% of the stock is currently owned by corporate insiders.

Nutanix Trading Down 0.6%

Shares of Nutanix stock opened at $73.30 on Wednesday. The company's fifty day simple moving average is $74.91 and its 200-day simple moving average is $71.76. The company has a market cap of $19.65 billion, a price-to-earnings ratio of 150.53, a PEG ratio of 5.14 and a beta of 0.71. Nutanix has a 1 year low of $46.19 and a 1 year high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $638.98 million for the quarter, compared to the consensus estimate of $626.12 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business's revenue was up 21.8% compared to the same quarter last year. As a group, research analysts forecast 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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