Nutanix $NTNX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Nutanix (NASDAQ:NTNX) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,895,361 shares of the technology company’s stock after selling 420,417 shares during the quarter. Bank of New York Mellon Corp’s holdings in Nutanix were worth $72,043,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. New Millennium Group LLC purchased a new stake in Nutanix during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Nutanix during the 4th quarter valued at about $39,000. Covestor Ltd raised its holdings in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after buying an additional 324 shares during the period. Harbour Investments Inc. lifted its position in Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after acquiring an additional 502 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in Nutanix by 78.7% during the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock worth $51,000 after acquiring an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of Nutanix from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Nutanix in a report on Friday, May 29th. Piper Sandler reissued an “overweight” rating on shares of Nutanix in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Trading Down 1.5%

NTNX stock opened at $53.36 on Thursday. The firm has a 50 day simple moving average of $50.62 and a 200-day simple moving average of $44.87. The company has a market capitalization of $14.42 billion, a P/E ratio of 56.17, a PEG ratio of 4.78 and a beta of 0.61. Nutanix has a twelve month low of $34.01 and a twelve month high of $82.42.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The firm had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, research analysts predict that Nutanix will post 0.71 EPS for the current year.

About Nutanix

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.