Allegiance Financial Group Advisory Services LLC Purchases New Stake in Nutanix (NASDAQ:NTNX)

Allegiance Financial Group Advisory Services LLC purchased a new stake in Nutanix (NASDAQ:NTNX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,841 shares of the technology company's stock, valued at approximately $268,000.

A number of other hedge funds also recently bought and sold shares of NTNX. Vanguard Group Inc. lifted its position in shares of Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock worth $1,568,447,000 after purchasing an additional 146,854 shares during the last quarter. Renaissance Technologies LLC raised its stake in Nutanix by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after buying an additional 268,400 shares in the last quarter. Geode Capital Management LLC raised its stake in Nutanix by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock valued at $263,275,000 after buying an additional 163,874 shares in the last quarter. First Trust Advisors LP lifted its holdings in Nutanix by 9.3% during the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock worth $214,055,000 after buying an additional 297,754 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Nutanix during the 4th quarter worth about $195,758,000. Institutional investors and hedge funds own 85.25% of the company's stock.

Insider Buying and Selling

In other news, Director Virginia Gambale sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of the sale, the director owned 38,330 shares in the company, valued at $2,989,740. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of Nutanix stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the transaction, the director owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. Company insiders own 6.80% of the company's stock.

Analyst Ratings Changes

NTNX has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Susquehanna upped their target price on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $90.00 price target (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.00.

Nutanix Stock Performance

Nutanix stock traded up $0.71 during midday trading on Friday, hitting $75.55. 1,427,778 shares of the company's stock were exchanged, compared to its average volume of 2,465,985. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 150.10, a price-to-earnings-growth ratio of 6.91 and a beta of 0.67. Nutanix has a 12-month low of $43.35 and a 12-month high of $83.36. The firm's 50 day simple moving average is $76.39 and its 200 day simple moving average is $70.77.

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

Nutanix 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.