Renaissance Group LLC Reduces Stake in Nutanix $NTNX

Renaissance Group LLC lessened its holdings in Nutanix (NASDAQ:NTNX) by 21.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,664 shares of the technology company’s stock after selling 96,165 shares during the quarter. Renaissance Group LLC owned about 0.13% of Nutanix worth $17,867,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Nutanix in the 4th quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Nutanix during the fourth quarter worth $39,000. Covestor Ltd lifted its position in Nutanix by 73.1% during the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. lifted its position in Nutanix by 159.4% during the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. Finally, GW&K Investment Management LLC boosted its holdings in Nutanix by 78.7% in the fourth quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after purchasing an additional 432 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Down 2.1%

Shares of NASDAQ NTNX opened at $49.66 on Thursday. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 52.27, a price-to-earnings-growth ratio of 4.47 and a beta of 0.62. The company’s 50-day simple moving average is $44.22 and its 200-day simple moving average is $44.66. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42.

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. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The firm had revenue of $364.94 million during the quarter, compared to the consensus estimate of $686.34 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Nutanix will post 0.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on NTNX shares. Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. William Blair restated a “market perform” rating on shares of Nutanix in a research note on Monday, March 23rd. Needham & Company LLC raised their target price on Nutanix from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research report on Friday, March 27th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Nutanix in a report on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Nutanix 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.