Nutanix $NTNX Stock: Crossmark Global Holdings Inc. Reduces Position

Key Points

• Crossmark Global Holdings reduced its Nutanix stake by 20.7% in the third quarter, selling 21,161 shares and retaining 80,944 shares valued at approximately $5.7 million. Institutional investors collectively own 85.25% of the company.
• Nutanix insiders have also sold shares recently: the CEO and CFO sold a combined 557,667 shares, while insiders sold 674,351 shares worth about $49.7 million over the past three months.
• Nutanix exceeded quarterly expectations with adjusted earnings of $0.60 per share and revenue of $757.1 million, up 15.9% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $73.07.

Crossmark Global Holdings Inc. reduced its stake in Nutanix (NASDAQ:NTNX - Free Report) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,944 shares of the technology company's stock after selling 21,161 shares during the period. Crossmark Global Holdings Inc.'s holdings in Nutanix were worth $5,699,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Nutanix by 1,535.2% during the second quarter. Assenagon Asset Management S.A. now owns 3,262,231 shares of the technology company's stock valued at $166,243,000 after buying an additional 3,062,730 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Nutanix by 628.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company's stock worth $45,046,000 after buying an additional 1,022,516 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Nutanix by 308.1% in the first quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company's stock valued at $43,174,000 after acquiring an additional 857,559 shares during the period. Hsbc Holdings PLC boosted its position in shares of Nutanix by 374.9% in the first quarter. Hsbc Holdings PLC now owns 592,587 shares of the technology company's stock valued at $22,723,000 after acquiring an additional 467,808 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Nutanix by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,589,508 shares of the technology company's stock valued at $60,416,000 after acquiring an additional 331,700 shares during the period. 85.25% of the stock is owned by institutional investors.

Insider Transactions at Nutanix

In related news, CFO Rukmini Sivaraman sold 232,712 shares of the business's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $74.55, for a total transaction of $17,348,679.60. Following the transaction, the chief financial officer directly owned 92,775 shares in the company, valued at $6,916,376.25. The trade was a 71.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajiv Ramaswami sold 324,955 shares of Nutanix stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35. Following the sale, the chief executive officer directly owned 489,384 shares of the company's stock, valued at $36,003,980.88. This trade represents a 39.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 674,351 shares of company stock valued at $49,736,524. Corporate insiders own 2.40% of the company's stock.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $70.58 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.92. The stock has a market cap of $19.10 billion, a PE ratio of 13.68, a PEG ratio of 3.45 and a beta of 0.64. The company's fifty day moving average is $69.02 and its 200 day moving average is $56.50. Nutanix has a 52 week low of $34.01 and a 52 week high of $75.98.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm had revenue of $757.08 million for the quarter, compared to the consensus estimate of $738.27 million. During the same period in the prior year, the firm earned $0.37 EPS. The company's revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that Nutanix will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on NTNX. Wells Fargo & Company boosted their price objective on shares of Nutanix from $55.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Northland Securities set a $70.00 target price on shares of Nutanix in a research note on Thursday, August 27th. Piper Sandler reissued an "overweight" rating and issued a $75.00 price target (up from $60.00) on shares of Nutanix in a report on Thursday, August 27th. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Nutanix in a report on Tuesday, August 25th. Finally, Barclays boosted their price target on shares of Nutanix from $53.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, August 28th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Nutanix currently has an average rating of "Moderate Buy" and an average price target of $73.07.

Nutanix Company Profile

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company's offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.

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