Renaissance Technologies LLC Decreases Stock Holdings in Nutanix $NTNX

Key Points

• Renaissance Technologies cut its Nutanix stake by 19.5% in Q1, selling 659,300 shares and leaving it with 2.72 million shares worth about $103.6 million.
• Several analysts remain constructive on NTNX, with recent price-target hikes from Morgan Stanley, RBC, Rosenblatt, and Bank of America; consensus stands at Moderate Buy with an average target of $60.
• Nutanix reported strong quarterly results, posting $0.47 EPS versus $0.35 expected and revenue of $703.1 million, up 10% year over year. The stock was trading up 4.6% at $55.04 in the article.

Renaissance Technologies LLC decreased its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 19.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,724,996 shares of the technology company's stock after selling 659,300 shares during the period. Renaissance Technologies LLC owned 1.03% of Nutanix worth $103,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NTNX. New Millennium Group LLC purchased a new position in shares of Nutanix during the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new stake in Nutanix in the fourth quarter worth $39,000. Covestor Ltd lifted its stake in Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after acquiring an additional 324 shares during the period. Harbour Investments Inc. boosted its holdings in Nutanix by 159.4% in the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock valued at $42,000 after acquiring an additional 502 shares in the last quarter. Finally, Frazier Financial Advisors LLC boosted its holdings in Nutanix by 1,063.8% in the first quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company's stock valued at $42,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NTNX. Weiss Ratings reissued a "hold (c)" rating on shares of Nutanix in a research report on Wednesday, June 24th. Morgan Stanley lifted their target price on shares of Nutanix from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Royal Bank Of Canada lifted their target price on shares of Nutanix from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Rosenblatt Securities reiterated a "buy" rating and set a $60.00 price target on shares of Nutanix in a research report on Friday, May 29th. Finally, Bank of America increased their price target on shares of Nutanix from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Nutanix has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Nutanix Trading Up 4.6%

Shares of NTNX stock opened at $55.04 on Friday. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42. The stock has a market cap of $14.88 billion, a PE ratio of 57.94, a price-to-earnings-growth ratio of 4.85 and a beta of 0.61. The company's fifty day moving average price is $50.94 and its 200-day moving average price is $44.96.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The company had revenue of $703.07 million during the quarter, compared to analyst estimates of $686.34 million. During the same period last year, the business earned $0.22 EPS. Nutanix's quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Nutanix will post 0.71 earnings per share for the current fiscal year.

Nutanix Company 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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