Nutanix, Inc. (NASDAQ:NTNX) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 6.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 77,757 shares of the technology company’s stock after selling 5,057 shares during the period. Navellier & Associates Inc.’s holdings in Nutanix were worth $4,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Nutanix during the 2nd quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Nutanix during the third quarter valued at approximately $27,000. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix in the second quarter valued at approximately $32,000. Advisors Asset Management Inc. boosted its stake in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after acquiring an additional 321 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after purchasing an additional 243 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Performance

Nutanix stock opened at $70.19 on Thursday. Nutanix, Inc. has a fifty-two week low of $40.20 and a fifty-two week high of $73.69. The firm has a 50 day moving average price of $63.41 and a 200 day moving average price of $59.23. The company has a market capitalization of $18.62 billion, a PE ratio of -133.54, a price-to-earnings-growth ratio of 13.01 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. As a group, equities research analysts forecast that Nutanix, Inc. will post 0.27 earnings per share for the current year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

NTNX has been the topic of several recent research reports. Oppenheimer assumed coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price on the stock. Northland Securities upped their price objective on shares of Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their target price on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Nutanix in a research note on Thursday, August 29th. Finally, Barclays boosted their price target on shares of Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.86.

About Nutanix

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.