Korea Investment CORP Sells 3,605 Shares of Nutanix $NTNX

Korea Investment CORP decreased its holdings in Nutanix (NASDAQ:NTNX) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 220,873 shares of the technology company’s stock after selling 3,605 shares during the quarter. Korea Investment CORP’s holdings in Nutanix were worth $15,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Nutanix by 69.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company’s stock worth $2,784,000 after acquiring an additional 16,374 shares during the last quarter. Amalgamated Bank raised its holdings in Nutanix by 4.9% in the 1st quarter. Amalgamated Bank now owns 14,420 shares of the technology company’s stock worth $1,007,000 after purchasing an additional 674 shares during the period. GAMMA Investing LLC lifted its position in Nutanix by 63.7% during the first quarter. GAMMA Investing LLC now owns 2,768 shares of the technology company’s stock valued at $193,000 after purchasing an additional 1,077 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Nutanix during the first quarter valued at about $2,596,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Nutanix in the first quarter worth about $256,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on Nutanix in a research report on Tuesday, July 15th. They set a “buy” rating and a $95.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Wall Street Zen lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 30th. Piper Sandler reissued an “overweight” rating and issued a $88.00 price objective (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Finally, KeyCorp started coverage on shares of Nutanix in a research note on Thursday, June 26th. They set an “overweight” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Nutanix Price Performance

NTNX stock opened at $69.63 on Thursday. Nutanix has a 1-year low of $51.55 and a 1-year high of $83.36. The business has a 50 day simple moving average of $73.53 and a two-hundred day simple moving average of $72.02. The company has a market capitalization of $18.67 billion, a price-to-earnings ratio of 138.59, a PEG ratio of 4.74 and a beta of 0.71.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The firm had revenue of $638.98 million for the quarter, compared to analysts’ expectations of $626.12 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of the business’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total value of $144,375.00. Following the sale, the chief executive officer owned 518,561 shares in the company, valued at $38,892,075. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rukmini Sivaraman sold 2,100 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the transaction, the chief financial officer owned 209,070 shares of the company’s stock, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,491,492 shares of company stock worth $421,797,778 in the last quarter. 6.80% of the stock is owned by company insiders.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.