Pictet Asset Management Holding SA Sells 568,976 Shares of Nutanix $NTNX

Key Points

• Pictet Asset Management trimmed its stake in Nutanix by 13.2%, selling 568,976 shares and now holds 3,745,367 shares (~1.39% of the company) valued at about $193.6 million.
• Nutanix beat expectations for the quarter with $0.56 EPS vs. $0.44 expected and revenue of $722.83 million (up 10.4% YoY), and analysts hold an average rating of Moderate Buy with a $60.87 target.
• The stock trades around $40.76 with a market cap of $10.81 billion, a 12‑month range of $34.01–$83.36, and institutional investors owning roughly 85.25% of shares.

Pictet Asset Management Holding SA lessened its stake in shares of Nutanix (NASDAQ:NTNX - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,745,367 shares of the technology company's stock after selling 568,976 shares during the period. Pictet Asset Management Holding SA owned about 1.39% of Nutanix worth $193,616,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Nutanix during the fourth quarter worth about $39,000. SJS Investment Consulting Inc. raised its holdings in Nutanix by 3,122.7% during the third quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company's stock worth $53,000 after acquiring an additional 687 shares in the last quarter. Optiver Holding B.V. bought a new stake in Nutanix during the third quarter worth about $68,000. Wilmington Savings Fund Society FSB raised its holdings in Nutanix by 135.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,059 shares of the technology company's stock worth $79,000 after acquiring an additional 609 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Nutanix by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,223 shares of the technology company's stock worth $94,000 after acquiring an additional 291 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Up 0.5%

NASDAQ:NTNX opened at $40.76 on Tuesday. The stock's 50 day moving average price is $39.47 and its two-hundred day moving average price is $48.97. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 44.30, a P/E/G ratio of 4.53 and a beta of 0.52. Nutanix has a 12-month low of $34.01 and a 12-month high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.12. The firm had revenue of $722.83 million for the quarter, compared to analyst estimates of $709.83 million. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Equities research analysts expect that Nutanix will post 0.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTNX shares. Rosenblatt Securities started coverage on Nutanix in a report on Thursday, April 2nd. They set a "buy" rating and a $60.00 target price on the stock. Piper Sandler dropped their target price on Nutanix from $72.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Needham & Company LLC dropped their price objective on Nutanix from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings restated a "hold (c)" rating on shares of Nutanix in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Nutanix from a "buy" rating to a "hold" rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.87.

Nutanix Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company's product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.

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