Nutanix $NTNX Shares Sold by SP Asset Management LLC

SP Asset Management LLC lowered its position in shares of Nutanix (NASDAQ:NTNX) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,193 shares of the technology company’s stock after selling 14,030 shares during the quarter. Nutanix makes up about 0.8% of SP Asset Management LLC’s holdings, making the stock its 28th largest holding. SP Asset Management LLC owned 0.05% of Nutanix worth $10,429,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in Nutanix by 42.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Nutanix by 3.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 40,450 shares of the technology company’s stock worth $3,092,000 after purchasing an additional 1,201 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Nutanix in the second quarter valued at approximately $232,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Nutanix by 620.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,800 shares of the technology company’s stock valued at $367,000 after purchasing an additional 4,134 shares during the last quarter. Finally, 111 Capital lifted its position in Nutanix by 35.8% during the second quarter. 111 Capital now owns 5,648 shares of the technology company’s stock worth $432,000 after buying an additional 1,489 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTNX has been the topic of several analyst reports. Bank of America reduced their price target on Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Wall Street Zen downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Wells Fargo & Company lowered their price objective on Nutanix from $71.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a research report on Monday, December 29th. Finally, Needham & Company LLC cut their price objective on Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Nutanix Stock Up 2.0%

NASDAQ:NTNX opened at $40.10 on Tuesday. Nutanix has a 52 week low of $38.65 and a 52 week high of $83.36. The stock’s fifty day moving average is $48.42 and its two-hundred day moving average is $63.06. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 53.47, a price-to-earnings-growth ratio of 4.20 and a beta of 0.48.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The firm had revenue of $670.58 million for the quarter, compared to the consensus estimate of $677.23 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, sell-side analysts expect that Nutanix will post 0.31 EPS 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.