State of New Jersey Common Pension Fund D Has $5.94 Million Stock Position in Nutanix $NTNX

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Nutanix by 7.9%, now holding 85,038 shares valued at approximately $5.94 million.
• Nutanix's stock recently experienced a 1.1% increase, currently priced at $69.46, with a market cap of $18.62 billion.
• Insider transactions revealed that Director Groen Max Pieter De sold 5.48 million shares valued at over $420 million, significantly reducing their position by 50%.

State of New Jersey Common Pension Fund D lowered its position in Nutanix (NASDAQ:NTNX - Free Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,038 shares of the technology company's stock after selling 7,249 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Nutanix were worth $5,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. grew its stake in Nutanix by 9.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,086,513 shares of the technology company's stock valued at $188,833,000 after purchasing an additional 269,866 shares in the last quarter. Federated Hermes Inc. grew its stake in Nutanix by 21.2% in the first quarter. Federated Hermes Inc. now owns 2,423,978 shares of the technology company's stock valued at $169,218,000 after purchasing an additional 423,249 shares in the last quarter. AQR Capital Management LLC grew its stake in Nutanix by 16.8% in the fourth quarter. AQR Capital Management LLC now owns 2,177,956 shares of the technology company's stock valued at $133,247,000 after purchasing an additional 314,060 shares in the last quarter. Northern Trust Corp grew its stake in Nutanix by 7.5% in the fourth quarter. Northern Trust Corp now owns 1,487,565 shares of the technology company's stock valued at $91,009,000 after purchasing an additional 103,655 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Nutanix by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,467,177 shares of the technology company's stock worth $102,424,000 after acquiring an additional 24,372 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Trading Up 1.3%

NASDAQ:NTNX traded up $0.85 during mid-day trading on Friday, hitting $68.79. 2,798,226 shares of the company's stock traded hands, compared to its average volume of 2,392,320. The firm has a 50 day moving average of $73.35 and a two-hundred day moving average of $72.01. Nutanix has a 12 month low of $52.18 and a 12 month high of $83.36. The firm has a market capitalization of $18.44 billion, a price-to-earnings ratio of 140.39, a price-to-earnings-growth ratio of 4.54 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 for the quarter, beating the consensus estimate of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%.The firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same quarter in the prior year, the company earned $0.28 EPS. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities research analysts expect that Nutanix will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Raymond James Financial downgraded Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Morgan Stanley reiterated an "overweight" rating and set a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Citigroup upgraded Nutanix to a "positive" rating in a research note on Tuesday, August 5th. Finally, KeyCorp assumed coverage on Nutanix in a research note on Thursday, June 26th. They set an "overweight" rating and a $95.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 1,925 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the sale, the chief executive officer owned 518,561 shares in the company, valued at $38,892,075. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Virginia Gambale sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 5,491,492 shares of company stock worth $421,797,778 in the last 90 days. 6.80% of the stock is owned by company 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.