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

Allegiance Financial Group Advisory Services LLC bought a new stake in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,841 shares of the technology company's stock, valued at approximately $268,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NTNX shares. Susquehanna upped 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. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. KeyCorp assumed coverage on shares of Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price objective (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group assumed coverage on shares of Nutanix in a research report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.00.

Insider Activity at Nutanix

In other news, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total value of $4,823,503.00. Following the completion of the sale, the chief executive officer owned 497,309 shares of the company's stock, valued at $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction on Monday, June 16th. The stock was 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,552,549 shares of company stock worth $426,621,281. Company insiders own 6.80% of the company's stock.

Nutanix Trading Up 0.3%

Shares of Nutanix stock traded up $0.23 on Monday, reaching $75.78. 451,125 shares of the stock were exchanged, compared to its average volume of 2,536,626. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.36. The business has a fifty day moving average price of $76.39 and a two-hundred day moving average price of $70.90. The firm has a market capitalization of $20.32 billion, a PE ratio of 154.18, a PEG ratio of 6.98 and a beta of 0.67.

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

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.