Nutanix $NTNX Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in Nutanix (NASDAQ:NTNX) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 610,698 shares of the technology company’s stock after selling 18,292 shares during the period. King Luther Capital Management Corp owned about 0.23% of Nutanix worth $42,999,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. CX Institutional boosted its position in Nutanix by 134.6% during the 2nd quarter. CX Institutional now owns 488 shares of the technology company’s stock valued at $25,000 after buying an additional 280 shares during the period. Parkside Financial Bank & Trust grew its holdings in Nutanix by 43.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company’s stock worth $29,000 after acquiring an additional 176 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Nutanix in the first quarter valued at about $27,000. Covestor Ltd increased its position in shares of Nutanix by 23.6% in the third quarter. Covestor Ltd now owns 855 shares of the technology company’s stock valued at $60,000 after acquiring an additional 163 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of Nutanix by 41.7% during the third quarter. V Square Quantitative Management LLC now owns 876 shares of the technology company’s stock valued at $62,000 after acquiring an additional 258 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTNX. Guggenheim assumed coverage on shares of Nutanix in a report on Monday, October 26th. They set a “buy” rating and a $100.00 target price for the company. Oppenheimer boosted their price target on Nutanix from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Bank of America reaffirmed a “buy” rating on shares of Nutanix in a research report on Thursday, August 27th. Wells Fargo & Company increased their price objective on Nutanix from $55.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Nutanix in a report on Thursday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.87.

Nutanix Price Performance

NTNX stock opened at $60.14 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.80 and a quick ratio of 1.80. Nutanix has a 1 year low of $34.01 and a 1 year high of $75.98. The firm has a 50-day moving average of $68.48 and a 200 day moving average of $53.13. The company has a market cap of $16.27 billion, a P/E ratio of 11.66, a PEG ratio of 2.94 and a beta of 0.72.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%. The business had revenue of $757.08 million for the quarter, compared to analysts’ expectations of $738.27 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that Nutanix will post 1.17 EPS for the current year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 232,712 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $74.55, for a total value of $17,348,679.60. Following the completion of the transaction, the chief financial officer owned 92,775 shares in the company, valued at $6,916,376.25. This trade represents a 71.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Sheppard sold 3,500 shares of the company’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $73.67, for a total value of $257,845.00. Following the completion of the sale, the director directly owned 23,488 shares in the company, valued at approximately $1,730,360.96. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 674,351 shares of company stock worth $49,736,524 in the last quarter. 2.30% of the stock is owned by company insiders.

About Nutanix

Nutanix, Inc. develops enterprise cloud software that helps organizations manage applications and data across on-premises data centers, public clouds and hybrid environments. Its platform brings together infrastructure, virtualization and cloud-management capabilities to simplify the operation of enterprise IT systems. The Nutanix Cloud Platform includes software for managing compute and storage resources, virtual machines and cloud environments. Its offerings include the AHV virtualization solution and Prism management software, as well as products for file and object storage and Kubernetes-based applications.