Bank of New York Mellon Corp Trims Stake in Nutanix $NTNX

Bank of New York Mellon Corp cut its position in Nutanix (NASDAQ:NTNX) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,895,361 shares of the technology company’s stock after selling 420,417 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.71% of Nutanix worth $72,043,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Nutanix by 1,196.7% in the fourth quarter. SG Americas Securities LLC now owns 139,509 shares of the technology company’s stock valued at $7,211,000 after acquiring an additional 128,750 shares in the last quarter. Katamaran Capital LLP raised its holdings in Nutanix by 270.0% during the fourth quarter. Katamaran Capital LLP now owns 86,094 shares of the technology company’s stock worth $4,450,000 after purchasing an additional 62,825 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Nutanix in the fourth quarter valued at about $1,800,000. Assenagon Asset Management S.A. boosted its holdings in Nutanix by 16.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 197,909 shares of the technology company’s stock valued at $10,230,000 after purchasing an additional 28,369 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Nutanix by 39.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 48,698 shares of the technology company’s stock valued at $2,517,000 after purchasing an additional 13,789 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NTNX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a research note on Wednesday, June 24th. UBS Group upped their price objective on Nutanix from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Nutanix in a research report on Friday, May 29th. Bank of America boosted their target price on shares of Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised shares of Nutanix from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Stock Down 1.5%

Shares of NTNX stock opened at $53.36 on Thursday. The stock has a market cap of $14.42 billion, a P/E ratio of 56.17, a P/E/G ratio of 4.78 and a beta of 0.61. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42. The business has a fifty day simple moving average of $50.62 and a 200-day simple moving average of $44.87.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm had revenue of $703.07 million for the quarter, compared to analyst estimates of $686.34 million. During the same quarter in the prior year, the company earned $0.22 EPS. Nutanix’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that Nutanix will post 0.71 earnings per share for the current year.

About Nutanix

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.