Granahan Investment Management LLC Reduces Holdings in Nutanix $NTNX

Granahan Investment Management LLC reduced its holdings in shares of Nutanix (NASDAQ:NTNX – Free Report) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,001 shares of the technology company’s stock after selling 21,108 shares during the quarter. Granahan Investment Management LLC’s holdings in Nutanix were worth $7,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Nutanix during the 4th quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in Nutanix during the 4th quarter valued at about $39,000. Covestor Ltd increased its holdings in Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after acquiring an additional 324 shares in the last quarter. Harbour Investments Inc. increased its holdings in Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after acquiring an additional 502 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in Nutanix by 78.7% during the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after acquiring an additional 432 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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Nutanix Price Performance

Shares of NASDAQ NTNX opened at $48.32 on Wednesday. The company has a market cap of $13.06 billion, a PE ratio of 50.86, a price-to-earnings-growth ratio of 4.35 and a beta of 0.62. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42. The company has a 50-day simple moving average of $44.98 and a 200-day simple moving average of $44.47.

Nutanix (NASDAQ:NTNX – Get Free Report) last released its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business had revenue of $364.94 million for the quarter, compared to analysts’ expectations of $686.34 million. During the same period last year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts anticipate that Nutanix will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NTNX shares. KeyCorp restated an “overweight” rating on shares of Nutanix in a report on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Nutanix in a report on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (down from $63.00) on shares of Nutanix in a report on Thursday, May 28th. Morgan Stanley lifted their price target on shares of Nutanix from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

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Nutanix Profile

(Free Report)

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.

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