Raymond James & Associates Lowers Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Raymond James & Associates cut its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,563 shares of the technology company’s stock after selling 6,370 shares during the period. Raymond James & Associates’ holdings in Nutanix were worth $3,292,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after acquiring an additional 243 shares during the last quarter. Paragon Capital Management Inc. grew its position in shares of Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock worth $1,545,000 after acquiring an additional 258 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position 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 worth $1,138,000 after acquiring an additional 369 shares during the last quarter. Daiwa Securities Group Inc. grew its position 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 worth $256,000 after acquiring an additional 370 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its position in shares of Nutanix by 3.6% during the second quarter. 180 Wealth Advisors LLC now owns 10,854 shares of the technology company’s stock worth $615,000 after acquiring an additional 374 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Stock Up 0.7 %

NASDAQ:NTNX opened at $62.55 on Monday. The company has a market capitalization of $16.59 billion, a PE ratio of -120.29, a price-to-earnings-growth ratio of 12.59 and a beta of 1.17. Nutanix, Inc. has a 52-week low of $36.73 and a 52-week high of $73.69. The stock has a fifty day simple moving average of $60.98 and a 200-day simple moving average of $58.48.

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

Analyst Upgrades and Downgrades

NTNX has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. 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 research report on Thursday, August 29th. Barclays lifted their price objective on shares of Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley upgraded shares of Nutanix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $71.00 to $72.00 in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.38.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the transaction, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Nutanix Company 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.