Smith Group Asset Management LLC Lowers Holdings in Nutanix (NASDAQ:NTNX)

Smith Group Asset Management LLC lessened its stake in Nutanix (NASDAQ:NTNX - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,189 shares of the technology company's stock after selling 4,200 shares during the quarter. Smith Group Asset Management LLC's holdings in Nutanix were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of NTNX. Vanguard Group Inc. increased its holdings in Nutanix by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock worth $1,568,447,000 after buying an additional 146,854 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Nutanix by 6.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock worth $270,348,000 after buying an additional 268,400 shares in the last quarter. Geode Capital Management LLC increased its holdings in Nutanix by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after buying an additional 163,874 shares in the last quarter. First Trust Advisors LP increased its holdings in Nutanix by 9.3% in the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock worth $214,055,000 after buying an additional 297,754 shares in the last quarter. Finally, Norges Bank bought a new stake in Nutanix in the 4th quarter worth about $195,758,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday. Piper Sandler reiterated an "overweight" rating and issued a $88.00 price objective (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. KeyCorp initiated 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. Needham & Company LLC restated a "buy" rating and set a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Finally, Raymond James Financial downgraded Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.71.

Nutanix Stock Up 1.5%

NTNX stock opened at $76.44 on Tuesday. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36. The stock has a market cap of $20.49 billion, a P/E ratio of 153.65, a PEG ratio of 6.79 and a beta of 0.68. The business's 50-day moving average price is $74.83 and its 200-day moving average price is $69.78.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, topping analysts' consensus estimates 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%. The firm's revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. On average, equities research analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 1,925 shares of the business's 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 transaction, the chief executive officer owned 518,561 shares of the company's stock, valued at approximately $38,892,075. The trade was a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 5,552,549 shares of company stock valued at $426,621,281 over the last 90 days. Insiders own 6.80% of the company's stock.

Nutanix 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.

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