Renaissance Technologies LLC trimmed its stake in Nutanix (NASDAQ:NTNX – Free Report) by 19.5% during the 1st quarter, HoldingsChannel reports. The fund owned 2,724,996 shares of the technology company’s stock after selling 659,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Nutanix were worth $103,577,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. New Millennium Group LLC bought a new position in shares of Nutanix during the fourth quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Nutanix in the 4th quarter worth about $39,000. Covestor Ltd raised its position in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares during the last quarter. Harbour Investments Inc. boosted its stake in Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after purchasing an additional 502 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock worth $51,000 after purchasing an additional 432 shares in 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 analysts have weighed in on NTNX shares. Barclays raised their price objective on shares of Nutanix from $47.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their price target on shares of Nutanix from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Nutanix from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Royal Bank Of Canada raised their price target on shares of Nutanix from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nutanix has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.
Nutanix Trading Up 4.6%
Shares of NTNX stock opened at $55.04 on Friday. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42. The stock has a market cap of $14.88 billion, a P/E ratio of 57.94, a P/E/G ratio of 4.85 and a beta of 0.61. The company has a 50 day simple moving average of $50.94 and a two-hundred day simple moving average of $44.96.
Nutanix (NASDAQ:NTNX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share 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 $703.07 million for the quarter, compared to analysts’ expectations of $686.34 million. During the same quarter last year, the company posted $0.22 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that Nutanix will post 0.71 earnings per share for the current year.
Nutanix Profile
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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