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Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of June. At Insider Monkey, we follow nearly 750 active hedge funds and notable investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is Nutanix, Inc. (NASDAQ:NTNX), so let’s take a closer look at the sentiment that surrounds it in the current quarter.
Nutanix, Inc. (NASDAQ:NTNX) shareholders have witnessed a decrease in hedge fund interest of late. Our calculations also showed that NTNX isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video below for Q2 rankings).
Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.
In the 21st century investor’s toolkit there are dozens of gauges market participants put to use to analyze stocks. A couple of the most useful gauges are hedge fund and insider trading interest. Our experts have shown that, historically, those who follow the best picks of the best investment managers can outclass the S&P 500 by a solid amount (see the details here).
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Ricky Sandler of Eminence Capital[/caption]
Unlike the largest US hedge funds that are convinced Dow will soar past 40,000 or the world's most bearish hedge fund that's more convinced than ever that a crash is coming, our long-short investment strategy doesn't rely on bull or bear markets to deliver double digit returns. We only rely on the best performing hedge funds' buy/sell signals. We're going to take a glance at the recent hedge fund action regarding Nutanix, Inc. (NASDAQ:NTNX).
How are hedge funds trading Nutanix, Inc. (NASDAQ:NTNX)?
At Q3's end, a total of 24 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -4% from the second quarter of 2019. The graph below displays the number of hedge funds with bullish position in NTNX over the last 17 quarters. With hedgies' sentiment swirling, there exists an "upper tier" of key hedge fund managers who were increasing their holdings significantly (or already accumulated large positions).
The largest stake in Nutanix, Inc. (NASDAQ:NTNX) was held by Eminence Capital, which reported holding $141.7 million worth of stock at the end of September. It was followed by Millennium Management with a $30.5 million position. Other investors bullish on the company included Isomer Partners, Altimeter Capital Management, and Citadel Investment Group. In terms of the portfolio weights assigned to each position Isomer Partners allocated the biggest weight to Nutanix, Inc. (NASDAQ:NTNX), around 8.48% of its 13F portfolio. Kerrisdale Capital is also relatively very bullish on the stock, dishing out 2.61 percent of its 13F equity portfolio to NTNX.