Daiwa Securities Group Inc. Sells 28,123 Shares of Nutanix $NTNX

Daiwa Securities Group Inc. trimmed its position in Nutanix (NASDAQ:NTNX) by 48.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,805 shares of the technology company’s stock after selling 28,123 shares during the period. Daiwa Securities Group Inc.’s holdings in Nutanix were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTNX. CW Advisors LLC bought a new stake in Nutanix in the 2nd quarter valued at about $273,000. Cerity Partners LLC increased its position in Nutanix by 15.2% in the 2nd quarter. Cerity Partners LLC now owns 83,073 shares of the technology company’s stock valued at $6,350,000 after buying an additional 10,967 shares in the last quarter. Bank of Nova Scotia increased its position in Nutanix by 296.5% in the 2nd quarter. Bank of Nova Scotia now owns 41,616 shares of the technology company’s stock valued at $3,181,000 after buying an additional 31,119 shares in the last quarter. NewEdge Advisors LLC increased its position in Nutanix by 164.4% in the 2nd quarter. NewEdge Advisors LLC now owns 8,622 shares of the technology company’s stock valued at $659,000 after buying an additional 5,361 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Nutanix by 19.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,604 shares of the technology company’s stock valued at $1,269,000 after buying an additional 2,735 shares in the last quarter. 85.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NTNX shares. Piper Sandler restated an “overweight” rating and set a $60.00 target price (down from $63.00) on shares of Nutanix in a research report on Thursday, May 28th. Northland Securities set a $47.00 target price on Nutanix in a research report on Thursday, May 28th. William Blair restated a “market perform” rating on shares of Nutanix in a research report on Monday, March 23rd. Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Nutanix in a research report on Thursday, May 28th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Stock Performance

Nutanix stock opened at $49.66 on Thursday. The stock has a market cap of $13.42 billion, a P/E ratio of 52.27, a PEG ratio of 4.47 and a beta of 0.62. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42. The firm’s fifty day moving average price is $44.22 and its 200-day moving average price is $44.66.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.12. The firm had revenue of $364.94 million for the quarter, compared to analysts’ expectations of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Sell-side analysts predict that Nutanix will post 0.71 earnings per share 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.