Raymond James Financial Inc. Sells 94,917 Shares of Nutanix $NTNX

Key Points

• Raymond James Financial Inc. has reduced its stake in Nutanix by 6.7%, owning approximately 1,324,244 shares valued at $92,445,000 as of the recent SEC filing.
• Several hedge funds, including Envestnet Asset Management Inc. and Mariner LLC, have increased their positions in Nutanix significantly in the fourth quarter, highlighting strong institutional interest.
• Nutanix reported an EPS of $0.42 for the last quarter, exceeding estimates, with revenue growth of 21.8% compared to the previous year, suggesting positive company performance.

Raymond James Financial Inc. cut its stake in Nutanix (NASDAQ:NTNX - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,324,244 shares of the technology company's stock after selling 94,917 shares during the quarter. Raymond James Financial Inc. owned 0.50% of Nutanix worth $92,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Contour Asset Management LLC bought a new position in shares of Nutanix in the fourth quarter valued at approximately $87,318,000. Nuveen LLC bought a new position in shares of Nutanix in the first quarter valued at approximately $86,949,000. Perpetual Ltd grew its holdings in shares of Nutanix by 10,205.2% in the first quarter. Perpetual Ltd now owns 875,946 shares of the technology company's stock valued at $61,150,000 after acquiring an additional 867,446 shares in the last quarter. Cadian Capital Management LP grew its holdings in shares of Nutanix by 68.5% in the fourth quarter. Cadian Capital Management LP now owns 1,455,792 shares of the technology company's stock valued at $89,065,000 after acquiring an additional 591,892 shares in the last quarter. Finally, Annex Advisory Services LLC bought a new position in shares of Nutanix in the first quarter valued at approximately $37,294,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James Financial lowered Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Wall Street Zen lowered Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Finally, Citigroup raised Nutanix to a "positive" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Insider Transactions at Nutanix

In other 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 transaction of $152,733.00. Following the sale, the chief financial officer owned 209,070 shares in the company, 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 is accessible through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the sale, the director directly owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,491,492 shares of company stock worth $421,797,778 over the last quarter. Insiders own 6.80% of the company's stock.

Nutanix Stock Up 1.3%

Shares of NTNX traded up $0.85 during trading hours on Friday, hitting $68.79. The company had a trading volume of 2,798,226 shares, compared to its average volume of 2,348,404. The firm has a market cap of $18.44 billion, a P/E ratio of 140.39, a P/E/G ratio of 4.54 and a beta of 0.71. Nutanix has a 52-week low of $52.18 and a 52-week high of $83.36. The stock's 50 day moving average price is $73.35 and its 200 day moving average price is $72.00.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 21.32% and a net margin of 0.97%.Nutanix's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. On average, research analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

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.