Cresset Asset Management LLC Trims Stake in Nutanix $NTNX

Cresset Asset Management LLC lowered its position in Nutanix (NASDAQ:NTNX) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,062 shares of the technology company’s stock after selling 35,950 shares during the period. Cresset Asset Management LLC’s holdings in Nutanix were worth $6,179,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NTNX. SJS Investment Consulting Inc. grew its stake in Nutanix by 3,122.7% in the third quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock worth $53,000 after purchasing an additional 687 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Nutanix by 33.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock worth $57,000 after buying an additional 186 shares during the period. Optiver Holding B.V. purchased a new stake in shares of Nutanix in the 3rd quarter worth about $68,000. Wilmington Savings Fund Society FSB increased its stake in shares of Nutanix by 135.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,059 shares of the technology company’s stock worth $79,000 after acquiring an additional 609 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Nutanix by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,223 shares of the technology company’s stock valued at $94,000 after acquiring an additional 291 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NTNX. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a report on Monday, December 29th. Bank of America cut their price target on Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Oppenheimer started coverage on Nutanix in a research note on Monday, November 17th. They set an “outperform” rating and a $90.00 price objective for the company. Needham & Company LLC cut their target price on Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Piper Sandler lowered their price target on Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.43.

Nutanix Trading Up 0.2%

Shares of NTNX opened at $40.39 on Friday. Nutanix has a 12 month low of $35.39 and a 12 month high of $83.36. The business’s fifty day simple moving average is $44.16 and its two-hundred day simple moving average is $57.93. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 43.90, a P/E/G ratio of 3.57 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The company had revenue of $722.83 million for the quarter, compared to analysts’ expectations of $709.83 million. During the same period last year, the firm posted $0.47 earnings per share. Nutanix’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that Nutanix will post 0.31 EPS for the current year.

Nutanix Company 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.