Citigroup Inc. Reduces Holdings in Nutanix (NASDAQ:NTNX)

Citigroup Inc. lowered its position in shares of Nutanix (NASDAQ:NTNX) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,433 shares of the technology company’s stock after selling 8,344 shares during the period. Citigroup Inc. owned about 0.07% of Nutanix worth $12,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Contour Asset Management LLC acquired a new position in Nutanix during the fourth quarter worth approximately $87,318,000. Perpetual Ltd boosted its holdings in shares of Nutanix by 10,205.2% in the first quarter. Perpetual Ltd now owns 875,946 shares of the technology company’s stock valued at $61,150,000 after acquiring an additional 867,446 shares during the period. Cadian Capital Management LP grew its position in shares of Nutanix by 68.5% during the fourth quarter. Cadian Capital Management LP now owns 1,455,792 shares of the technology company’s stock worth $89,065,000 after acquiring an additional 591,892 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Nutanix during the first quarter worth approximately $37,294,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Nutanix by 48.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,314,509 shares of the technology company’s stock valued at $80,422,000 after acquiring an additional 428,171 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NTNX. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Wall Street Zen cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Monday, June 30th. The Goldman Sachs Group assumed coverage on Nutanix in a report on Tuesday, July 15th. They set a “buy” rating and a $95.00 price target on the stock. Citigroup upgraded Nutanix to a “positive” rating in a research report on Tuesday, August 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $88.00 price objective (up from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Nutanix Stock Performance

Nutanix stock opened at $68.61 on Friday. The company has a market cap of $18.39 billion, a P/E ratio of 143.24, a price-to-earnings-growth ratio of 4.89 and a beta of 0.71. Nutanix has a one year low of $51.11 and a one year high of $83.36. The business has a fifty day moving average of $74.04 and a two-hundred day moving average of $72.00.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $638.98 million during the quarter, compared to analysts’ expectations of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. Sell-side analysts predict that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In related news, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of the transaction, the director directly owned 38,330 shares of the company’s stock, valued at approximately $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the sale, the director owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,491,492 shares of company stock valued at $421,797,778 in the last 90 days. Insiders own 6.80% of the company’s stock.

Nutanix Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.