1832 Asset Management L.P. Buys New Shares in Nutanix $NTNX

Key Points

• 1832 Asset Management L.P. acquired a new stake in Nutanix by purchasing 276,600 shares valued at approximately $19.3 million during the first quarter of the year.
• Insiders at Nutanix have significantly sold shares recently, with a total of 5.49 million shares valued at over $421 million sold in the past ninety days, indicating potential shifts in ownership dynamics.
• Several investment analysts have set new price targets for Nutanix, with Needham & Company maintaining a "buy" rating and issuing a price target of $92.00.

1832 Asset Management L.P. bought a new stake in Nutanix (NASDAQ:NTNX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 276,600 shares of the technology company's stock, valued at approximately $19,309,000. 1832 Asset Management L.P. owned 0.10% of Nutanix as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GW&K Investment Management LLC acquired a new position in Nutanix in the first quarter valued at $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after buying an additional 191 shares during the period. Colonial Trust Co SC acquired a new position in Nutanix in the fourth quarter valued at $28,000. SouthState Corp acquired a new position in Nutanix in the first quarter valued at $32,000. Finally, Fifth Third Bancorp increased its stake in Nutanix by 98.4% in the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock valued at $35,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Insider Buying and Selling at Nutanix

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total transaction of $152,733.00. Following the completion of the sale, the chief financial officer directly owned 209,070 shares of the company's stock, valued at $15,205,661.10. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the sale, the director directly owned 38,330 shares of the company's stock, valued at approximately $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,491,492 shares of company stock valued at $421,797,778. Insiders own 6.80% of the company's stock.

Nutanix Price Performance

NASDAQ:NTNX opened at $68.79 on Friday. The firm has a 50-day moving average of $73.35 and a 200-day moving average of $72.00. The company has a market cap of $18.44 billion, a PE ratio of 140.39, a PEG ratio of 4.54 and a beta of 0.71. Nutanix has a one year low of $52.18 and a one year high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, equities research analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Finally, Susquehanna lifted their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued 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 target price of $91.00.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.

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