Principal Financial Group Inc. Lowers Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Principal Financial Group Inc. trimmed its holdings in Nutanix, Inc. (NASDAQ:NTNX) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,490 shares of the technology company’s stock after selling 1,458 shares during the period. Principal Financial Group Inc.’s holdings in Nutanix were worth $1,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTNX. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Nutanix during the second quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new position in Nutanix in the third quarter valued at $27,000. Itau Unibanco Holding S.A. purchased a new stake in Nutanix during the second quarter valued at about $32,000. GAMMA Investing LLC raised its holdings in shares of Nutanix by 35.2% in the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after purchasing an additional 243 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Nutanix by 57.8% in the 3rd quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Raymond James boosted their price objective on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Barclays upped their target price on Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of Nutanix in a report on Thursday, August 29th. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $71.00 to $72.00 in a research report on Monday, October 28th. Finally, Bank of America raised their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.86.

Nutanix Stock Up 3.2 %

Shares of NASDAQ:NTNX opened at $73.18 on Friday. The company has a market cap of $19.41 billion, a PE ratio of -140.73, a P/E/G ratio of 11.74 and a beta of 1.17. Nutanix, Inc. has a fifty-two week low of $40.33 and a fifty-two week high of $73.69. The firm has a 50-day simple moving average of $63.90 and a 200 day simple moving average of $59.33.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $547.95 million for the quarter, compared to analysts’ expectations 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, research analysts forecast that Nutanix, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the 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 in the company, valued at $11,309,145.65. This represents a 11.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

About Nutanix

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.