Nutanix (NASDAQ:NTNX) Stock Holdings Lessened by M&T Bank Corp

M&T Bank Corp cut its position in Nutanix (NASDAQ:NTNX) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,096 shares of the technology company’s stock after selling 1,562 shares during the quarter. M&T Bank Corp’s holdings in Nutanix were worth $704,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC grew its stake in shares of Nutanix by 4.8% in the 4th quarter. LPL Financial LLC now owns 71,732 shares of the technology company’s stock worth $4,389,000 after purchasing an additional 3,276 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Nutanix during the fourth quarter worth approximately $234,000. Assenagon Asset Management S.A. lifted its stake in Nutanix by 69.7% in the first quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company’s stock valued at $2,784,000 after acquiring an additional 16,374 shares during the last quarter. Amalgamated Bank lifted its stake in Nutanix by 4.9% in the first quarter. Amalgamated Bank now owns 14,420 shares of the technology company’s stock valued at $1,007,000 after acquiring an additional 674 shares during the last quarter. Finally, Norges Bank acquired a new stake in Nutanix in the fourth quarter valued at approximately $195,758,000. 85.25% of the stock is currently owned by institutional investors.

Insider Transactions at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the transaction, the chief financial officer directly owned 209,070 shares in the company, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the transaction, the director owned 5,480,468 shares in the company, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. 6.80% of the stock is currently owned by company insiders.

Nutanix Trading Up 2.5%

NASDAQ NTNX opened at $74.25 on Wednesday. The company has a market cap of $19.90 billion, a PE ratio of 147.88, a PEG ratio of 6.69 and a beta of 0.67. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36. The stock has a 50 day moving average of $76.37 and a 200-day moving average of $70.56.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results 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 negative return on equity of 21.32% and a net margin of 0.97%. The business had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same quarter last year, the firm posted $0.28 EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTNX. Susquehanna boosted their target price on shares of Nutanix from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Thursday, May 29th. Wall Street Zen downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 30th. Piper Sandler reiterated an “overweight” rating and set a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. KeyCorp began coverage on shares of Nutanix in a research report on Thursday, June 26th. They set an “overweight” rating and a $95.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

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.