Account Management LLC Invests $1.71 Million in Nutanix $NTNX

Key Points

• Account Management LLC opened a new position in Nutanix during the first quarter, buying 44,975 shares worth about $1.71 million. The stake represents roughly 1.9% of its portfolio.
• Nutanix continues to draw strong institutional interest, with 85.25% of shares held by hedge funds and other institutional investors. Several firms recently increased their positions in the stock.
• Analysts remain generally positive on Nutanix, with a Moderate Buy consensus and an average price target of $60. The company recently beat EPS expectations in its latest earnings report, though revenue came in below estimates.

Account Management LLC purchased a new position in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,975 shares of the technology company's stock, valued at approximately $1,710,000. Nutanix accounts for approximately 1.9% of Account Management LLC's investment portfolio, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new stake in Nutanix in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in shares of Nutanix during the 4th quarter valued at $39,000. Covestor Ltd increased its stake in shares of Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after acquiring an additional 324 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Nutanix by 159.4% in the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock worth $42,000 after acquiring an additional 502 shares during the last quarter. Finally, GW&K Investment Management LLC raised its holdings in shares of Nutanix by 78.7% during the fourth quarter. GW&K Investment Management LLC now owns 981 shares of the technology company's stock worth $51,000 after acquiring an additional 432 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on NTNX shares. KeyCorp reissued an "overweight" rating on shares of Nutanix in a research report on Thursday, May 28th. Morgan Stanley raised their price target on Nutanix from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 28th. UBS Group lifted their price target on Nutanix from $60.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Barclays boosted their price target on Nutanix from $47.00 to $53.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group restated 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Nutanix Trading Down 1.3%

Shares of NASDAQ:NTNX opened at $54.79 on Friday. The stock has a market capitalization of $14.81 billion, a PE ratio of 57.67, a P/E/G ratio of 4.89 and a beta of 0.61. Nutanix has a 1 year low of $34.01 and a 1 year high of $82.42. The firm has a fifty day moving average price of $48.91 and a 200 day moving average price of $44.77.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.12. The company had revenue of $364.94 million for the quarter, compared to analyst estimates of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The business's revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. On average, sell-side analysts forecast that Nutanix will post 0.71 earnings per share for the current fiscal year.

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.

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