Nutanix $NTNX Stock: King Luther Capital Management Corp Cuts Position

King Luther Capital Management Corp reduced its stake in Nutanix (NASDAQ:NTNX) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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’s holdings in Nutanix were worth $42,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NTNX. Maryland State Retirement & Pension System boosted its stake in Nutanix by 19.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 16,306 shares of the technology company’s stock worth $1,148,000 after purchasing an additional 2,612 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Nutanix during the 3rd quarter valued at about $340,000. Machina Capital S.A.S. grew its position in Nutanix by 2.6% during the 3rd quarter. Machina Capital S.A.S. now owns 6,878 shares of the technology company’s stock valued at $484,000 after purchasing an additional 175 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Nutanix by 0.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 92,608 shares of the technology company’s stock valued at $6,521,000 after purchasing an additional 530 shares in the last quarter. Finally, Keybank National Association OH increased its stake in Nutanix by 2.8% during the 3rd quarter. Keybank National Association OH now owns 8,906 shares of the technology company’s stock valued at $627,000 after purchasing an additional 245 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Stock Performance

Shares of NASDAQ:NTNX opened at $60.14 on Thursday. Nutanix has a 52 week low of $34.01 and a 52 week high of $75.98. The stock has a market capitalization of $16.27 billion, a P/E ratio of 11.66, a PEG ratio of 2.94 and a beta of 0.72. The firm has a fifty day simple moving average of $68.48 and a two-hundred day simple moving average of $53.13. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.92.

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

Insider Activity

In other news, CEO Rajiv Ramaswami sold 75,045 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $74.00, for a total transaction of $5,553,330.00. Following the transaction, the chief executive officer owned 414,339 shares of the company’s stock, valued at approximately $30,661,086. The trade was a 15.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 232,712 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $74.55, for a total value of $17,348,679.60. Following the sale, the chief financial officer owned 92,775 shares in the company, valued at $6,916,376.25. The trade was a 71.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 674,351 shares of company stock valued at $49,736,524 in the last ninety days. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NTNX. Bank of America reaffirmed a “buy” rating on shares of Nutanix in a research report on Thursday, August 27th. UBS Group set a $85.00 target price on Nutanix in a report on Thursday, August 27th. Wells Fargo & Company boosted their price objective on Nutanix from $55.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Royal Bank Of Canada raised their target price on shares of Nutanix from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley boosted their price target on Nutanix from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.87.

Nutanix Company Profile

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.