Arkadios Wealth Advisors Cuts Position in Nutanix (NASDAQ:NTNX)

Key Points

• Arkadios Wealth Advisors reduced its holdings in Nutanix by 64.0% during the first quarter, now owning 9,323 shares valued at approximately $651,000.
• Recent analysis from brokerages has resulted in target prices for Nutanix shares ranging from $88.00 to $95.00, with an average rating of "Moderate Buy."
• Nutanix's stock has seen a 4.1% decline, currently trading at $72.11, with a market cap of $19.33 billion.

Arkadios Wealth Advisors reduced its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,323 shares of the technology company's stock after selling 16,551 shares during the period. Arkadios Wealth Advisors' holdings in Nutanix were worth $651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC increased its position in shares of Nutanix by 4.8% during the fourth quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock valued at $4,389,000 after acquiring an additional 3,276 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Nutanix by 69.7% during the first quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company's stock valued at $2,784,000 after acquiring an additional 16,374 shares during the last quarter. Amalgamated Bank increased its position in shares of Nutanix by 4.9% during the first quarter. Amalgamated Bank now owns 14,420 shares of the technology company's stock valued at $1,007,000 after acquiring an additional 674 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Nutanix by 63.7% during the first quarter. GAMMA Investing LLC now owns 2,768 shares of the technology company's stock valued at $193,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Nutanix during the first quarter valued at about $2,596,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Trading Up 3.3%

NTNX stock traded up $2.40 on Wednesday, hitting $75.70. The company's stock had a trading volume of 1,792,194 shares, compared to its average volume of 1,951,226. The firm has a 50 day moving average of $74.91 and a two-hundred day moving average of $71.76. Nutanix has a 1 year low of $47.30 and a 1 year high of $83.36. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 149.59, a price-to-earnings-growth ratio of 5.11 and a beta of 0.71.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $638.98 million for the quarter, compared to analysts' expectations of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. Nutanix's revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, equities analysts forecast that Nutanix will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NTNX has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of Nutanix in a report on Thursday, May 29th. Citigroup upgraded shares of Nutanix to a "positive" rating in a research note on Tuesday. Piper Sandler reiterated an "overweight" rating and issued a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Finally, Wall Street Zen downgraded 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, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nutanix has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Insider Activity

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the transaction, the chief financial officer directly owned 209,070 shares of the company's stock, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 61,057 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the transaction, the chief executive officer directly owned 497,309 shares in the company, valued at $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,552,549 shares of company stock valued at $426,621,281. 6.80% of the stock is owned by corporate insiders.

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.