Nutanix, Inc. (NASDAQ:NTNX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Nutanix, Inc. (NASDAQ:NTNX) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,490 shares of the technology company’s stock after selling 1,458 shares during the quarter. Principal Financial Group Inc.’s holdings in Nutanix were worth $1,036,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NTNX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Nutanix during the second quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Nutanix during the 3rd quarter worth $27,000. Itau Unibanco Holding S.A. acquired a new position in shares of Nutanix in the 2nd quarter worth $32,000. GAMMA Investing LLC raised its position in shares of Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after purchasing an additional 243 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Wall Street Analyst Weigh In

NTNX has been the topic of a number of analyst reports. Bank of America lifted their price target on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Nutanix in a research report on Thursday, August 29th. Piper Sandler upped their price target on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $71.00 to $72.00 in a research note on Monday, October 28th. Finally, Royal Bank of Canada boosted their target price on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.86.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $73.18 on Friday. Nutanix, Inc. has a one year low of $40.33 and a one year high of $73.69. The business’s 50-day moving average price is $63.90 and its two-hundred day moving average price is $59.33. The company has a market capitalization of $19.41 billion, a P/E ratio of -140.73, a price-to-earnings-growth ratio of 11.74 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $547.95 million during the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. On average, equities analysts anticipate that Nutanix, Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

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

About Nutanix

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.