Citigroup Inc. Buys 28,853 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Citigroup Inc. grew its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 22.8% in the third quarter, HoldingsChannel.com reports. The firm owned 155,129 shares of the technology company’s stock after buying an additional 28,853 shares during the quarter. Citigroup Inc.’s holdings in Nutanix were worth $9,191,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on NTNX shares. Oppenheimer started coverage on shares of Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. StockNews.com upgraded shares of Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday. Piper Sandler raised their target price on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley upped their price target on Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Raymond James raised their price objective on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.86.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at $11,309,145.65. This represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Sangster sold 11,950 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Nutanix Stock Performance

NASDAQ NTNX opened at $65.28 on Friday. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of -186.51, a PEG ratio of 11.04 and a beta of 1.17. The stock has a 50-day moving average of $64.88 and a 200 day moving average of $59.45. Nutanix, Inc. has a one year low of $42.22 and a one year high of $75.80.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.43%. The firm had revenue of $547.95 million during the quarter, compared to analysts’ expectations of $537.12 million. On average, equities analysts predict that Nutanix, Inc. will post 0.31 earnings per share for the current fiscal year.

Nutanix Profile

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.