Charles Schwab Investment Management Inc. Decreases Position in Nutanix, Inc. (NASDAQ:NTNX)

Charles Schwab Investment Management Inc. cut its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 36.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,408,825 shares of the technology company's stock after selling 803,169 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.53% of Nutanix worth $83,473,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NTNX. Renaissance Technologies LLC boosted its holdings in shares of Nutanix by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company's stock worth $212,548,000 after purchasing an additional 256,156 shares during the last quarter. Marshall Wace LLP boosted its stake in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company's stock worth $84,308,000 after buying an additional 477,838 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Nutanix by 123.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company's stock valued at $81,593,000 after buying an additional 794,215 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Nutanix by 30.8% in the 2nd quarter. AQR Capital Management LLC now owns 978,329 shares of the technology company's stock worth $55,618,000 after acquiring an additional 230,639 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Nutanix by 15.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 901,923 shares of the technology company's stock worth $51,270,000 after acquiring an additional 122,505 shares during the period. Hedge funds and other institutional investors own 85.25% of the company's stock.

Analysts Set New Price Targets

NTNX has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Nutanix from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Piper Sandler raised their price target on shares of Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a report on Wednesday. Bank of America lifted their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Raymond James increased their price objective on Nutanix from $76.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $78.86.

Nutanix Price Performance

Shares of NASDAQ NTNX traded down $5.65 during midday trading on Thursday, hitting $66.70. The company's stock had a trading volume of 7,735,697 shares, compared to its average volume of 2,582,859. Nutanix, Inc. has a 1 year low of $40.44 and a 1 year high of $75.80. The business's fifty day simple moving average is $64.79 and its two-hundred day simple moving average is $59.45. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued 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. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The company had revenue of $547.95 million during the quarter, compared to analysts' expectations of $537.12 million. Analysts anticipate that Nutanix, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, COO David Sangster sold 11,950 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the transaction, the chief financial officer now owns 192,169 shares of the company's stock, valued at $11,309,145.65. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.80% of the company's stock.

Nutanix Company 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.