Nutanix $NTNX Shares Sold by SP Asset Management LLC

SP Asset Management LLC lowered its stake in shares of Nutanix (NASDAQ:NTNX) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,193 shares of the technology company’s stock after selling 14,030 shares during the quarter. Nutanix accounts for about 0.8% of SP Asset Management LLC’s portfolio, making the stock its 28th largest position. SP Asset Management LLC’s holdings in Nutanix were worth $10,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Nutanix by 42.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Nutanix by 3.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 40,450 shares of the technology company’s stock valued at $3,092,000 after buying an additional 1,201 shares during the period. Truist Financial Corp acquired a new position in shares of Nutanix during the second quarter worth about $232,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Nutanix by 620.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,800 shares of the technology company’s stock worth $367,000 after buying an additional 4,134 shares in the last quarter. Finally, 111 Capital increased its stake in shares of 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 during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $40.10 on Tuesday. The company’s fifty day moving average price is $48.42 and its 200 day moving average price is $63.06. Nutanix has a 12 month low of $38.65 and a 12 month high of $83.36. The firm has a market capitalization of $10.84 billion, a P/E ratio of 53.47, a P/E/G ratio of 4.20 and a beta of 0.48.

Nutanix (NASDAQ:NTNX) last released 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 net margin of 8.43% and a negative return on equity of 32.95%. The company had revenue of $670.58 million during the quarter, compared to the consensus estimate of $677.23 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Nutanix’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, sell-side analysts anticipate that Nutanix will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley set a $62.00 price target on shares of Nutanix in a research note on Monday, January 12th. Bank of America decreased their price objective on shares of Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Northland Securities dropped their target price on Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a report on Wednesday, November 26th. KeyCorp cut their price target on Nutanix from $95.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. lowered their price objective on Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

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.