SP Asset Management LLC Trims Stake in Nutanix, Inc. (NASDAQ:NTNX)

SP Asset Management LLC cut its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX) by 12.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,940 shares of the technology company’s stock after selling 30,840 shares during the quarter. Nutanix comprises approximately 1.1% of SP Asset Management LLC’s investment portfolio, making the stock its 27th biggest position. SP Asset Management LLC owned 0.09% of Nutanix worth $12,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nutanix in the 2nd quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Nutanix during the fourth quarter worth about $29,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Nutanix during the fourth quarter worth about $37,000. GAMMA Investing LLC boosted its stake in shares of Nutanix by 35.2% in the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after purchasing an additional 243 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Nutanix in the first quarter valued at approximately $64,000. 85.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rajiv Ramaswami sold 23,986 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $1,299,801.34. Following the transaction, the chief executive officer now owns 407,045 shares in the company, valued at approximately $22,057,768.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $1,299,801.34. Following the completion of the sale, the chief executive officer now owns 407,045 shares in the company, valued at approximately $22,057,768.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the sale, the chief financial officer now owns 144,902 shares of the company’s stock, valued at approximately $7,711,684.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,936 shares of company stock valued at $2,531,273. Insiders own 0.46% of the company’s stock.

Nutanix Price Performance

NTNX stock opened at $60.23 on Wednesday. Nutanix, Inc. has a 12 month low of $33.30 and a 12 month high of $73.69. The company has a market cap of $14.86 billion, a price-to-earnings ratio of -860.31, a price-to-earnings-growth ratio of 12.03 and a beta of 1.19. The company has a fifty day moving average price of $53.62 and a 200 day moving average price of $58.95.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Nutanix in a research note on Thursday, August 29th. Raymond James increased their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley lifted their price objective on Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Northland Securities upped their target price on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Finally, Bank of America lifted their price target on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Nutanix presently has a consensus rating of “Moderate Buy” and an average price target of $73.31.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.