King Luther Capital Management Corp Reduces Holdings in Nutanix, Inc. (NASDAQ:NTNX)

King Luther Capital Management Corp lowered its stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 494,233 shares of the technology company's stock after selling 39,078 shares during the quarter. King Luther Capital Management Corp owned about 0.19% of Nutanix worth $29,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its position in Nutanix by 3.4% in the third quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company's stock valued at $417,000 after purchasing an additional 233 shares during the period. GAMMA Investing LLC lifted its position in shares of Nutanix by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company's stock valued at $53,000 after acquiring an additional 243 shares during the period. Paragon Capital Management Inc. lifted its position in shares of Nutanix by 1.0% during the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company's stock valued at $1,545,000 after acquiring an additional 258 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Nutanix by 150.7% during the 3rd 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 during the period. Finally, Signaturefd LLC raised its position in shares of Nutanix by 57.8% during the 3rd quarter. Signaturefd LLC now owns 956 shares of the technology company's stock worth $57,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Insiders Place Their Bets

In related 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 transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares of the company's stock, valued at $11,309,145.65. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 11,950 shares of the 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 of the company's stock, valued at approximately $7,411,022.44. This 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 owned by insiders.

Nutanix Stock Up 1.5 %

Shares of NASDAQ:NTNX opened at $69.44 on Thursday. Nutanix, Inc. has a fifty-two week low of $39.34 and a fifty-two week high of $73.69. The firm has a 50-day simple moving average of $63.23 and a 200 day simple moving average of $59.16.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. As a group, analysts expect that Nutanix, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTNX. Oppenheimer started coverage on Nutanix in a research report on Wednesday, November 13th. They set an "outperform" rating and a $80.00 price objective for the company. Raymond James boosted their price objective on shares of Nutanix from $76.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Morgan Stanley upgraded shares of Nutanix from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $71.00 to $72.00 in a report on Monday, October 28th. Bank of America lifted their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Finally, Barclays boosted their price objective on shares of Nutanix from $71.00 to $75.00 and gave the stock an "overweight" rating in a report 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. Based on data from MarketBeat.com, Nutanix has a consensus rating of "Moderate Buy" and a consensus price target of $73.86.

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.

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