SG Americas Securities LLC Trims Holdings in Nutanix, Inc. (NASDAQ:NTNX)

SG Americas Securities LLC reduced its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 68.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,735 shares of the technology company’s stock after selling 65,271 shares during the quarter. SG Americas Securities LLC’s holdings in Nutanix were worth $1,762,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Nutanix by 35.2% in the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after buying an additional 243 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Nutanix by 2.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 369 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Nutanix by 9.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company’s stock valued at $256,000 after acquiring an additional 370 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Nutanix by 3.6% in the second quarter. 180 Wealth Advisors LLC now owns 10,854 shares of the technology company’s stock valued at $615,000 after purchasing an additional 374 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Nutanix by 5.8% in the second quarter. CIBC Asset Management Inc now owns 6,803 shares of the technology company’s stock worth $387,000 after purchasing an additional 374 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Nutanix in a research note on Thursday, August 29th. Northland Securities raised their target price on shares of Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Barclays upped their price target on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.31.

Nutanix Stock Performance

Shares of NTNX stock opened at $61.19 on Wednesday. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of -874.14, a PEG ratio of 12.23 and a beta of 1.18. The stock’s 50-day simple moving average is $56.09 and its 200-day simple moving average is $58.49. Nutanix, Inc. has a fifty-two week low of $34.40 and a fifty-two week high of $73.69.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million for the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. As a group, equities analysts forecast that Nutanix, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Nutanix Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.