PDT Partners LLC Sells 5,295 Shares of Nutanix, Inc. (NASDAQ:NTNX)

PDT Partners LLC reduced its position in shares of Nutanix, Inc. (NASDAQ:NTNX) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,219 shares of the technology company’s stock after selling 5,295 shares during the quarter. PDT Partners LLC’s holdings in Nutanix were worth $3,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTNX. O Shaughnessy Asset Management LLC bought a new stake in Nutanix during the 1st quarter worth about $213,000. Tidal Investments LLC raised its holdings in Nutanix by 37.0% during the 1st quarter. Tidal Investments LLC now owns 23,551 shares of the technology company’s stock worth $1,454,000 after purchasing an additional 6,364 shares during the last quarter. Burney Co. bought a new stake in Nutanix during the 1st quarter worth about $688,000. Cetera Investment Advisers raised its holdings in Nutanix by 48.7% during the 1st quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock worth $4,697,000 after purchasing an additional 24,918 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in Nutanix during the 1st quarter worth about $3,141,000. 85.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Nutanix

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the company’s 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 sale, 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 SEC, which is available at this link. Also, COO David Sangster sold 11,950 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now 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. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NTNX has been the subject of several recent research reports. Bank of America boosted their price objective on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC boosted their target price on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their target price on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Stock Performance

NASDAQ NTNX opened at $65.28 on Friday. The stock 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’s 50 day moving average price is $64.88 and its two-hundred day moving average price is $59.45. Nutanix, Inc. has a 52 week low of $42.22 and a 52 week high of $75.80.

Nutanix (NASDAQ:NTNX) last released its 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 firm had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative return on equity of 12.43% and a negative net margin of 3.54%. On average, equities research analysts forecast that Nutanix, Inc. will post 0.31 EPS for the current 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.