APG Asset Management US Inc. Raises Stake in Nutanix $NTNX

Key Points

• APG Asset Management US Inc. raised its stake in Nutanix (NASDAQ:NTNX) by 218.2% in the first quarter, now owning 25,240 shares valued at approximately $1.76 million.
• The company reported a 21.8% year-over-year revenue increase of $638.98 million for the most recent quarter, exceeding analyst estimates.
• Analysts are optimistic about Nutanix, with a consensus price target of $91.00 and a majority rating the stock as either a Buy or Strong Buy.

APG Asset Management US Inc. raised its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 218.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,240 shares of the technology company's stock after purchasing an additional 17,309 shares during the quarter. APG Asset Management US Inc.'s holdings in Nutanix were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NTNX. Contour Asset Management LLC bought a new stake in shares of Nutanix during the fourth quarter valued at about $87,318,000. Nuveen LLC bought a new stake in shares of Nutanix during the first quarter valued at about $86,949,000. Perpetual Ltd increased its position in shares of Nutanix by 10,205.2% during the first quarter. Perpetual Ltd now owns 875,946 shares of the technology company's stock valued at $61,150,000 after buying an additional 867,446 shares during the period. Cadian Capital Management LP increased its position in shares of Nutanix by 68.5% in the fourth quarter. Cadian Capital Management LP now owns 1,455,792 shares of the technology company's stock worth $89,065,000 after purchasing an additional 591,892 shares during the last quarter. Finally, Annex Advisory Services LLC bought a new position in shares of Nutanix in the first quarter worth approximately $37,294,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Performance

NASDAQ:NTNX opened at $68.79 on Friday. The firm has a market cap of $18.44 billion, a PE ratio of 138.65, a price-to-earnings-growth ratio of 4.48 and a beta of 0.71. Nutanix has a fifty-two week low of $52.18 and a fifty-two week high of $83.36. The business has a 50 day moving average price of $73.35 and a 200-day moving average price of $72.00.

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

Analysts Set New Price Targets

NTNX has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Nutanix in a research report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of Nutanix in a research report on Thursday, May 29th. KeyCorp started coverage on shares of Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price objective on the stock. Susquehanna upped their target price on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.00.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 7,000 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the sale, the director owned 38,330 shares of the company's stock, valued at $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 1,925 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total value of $144,375.00. Following the completion of the sale, the chief executive officer directly owned 518,561 shares of the company's stock, valued at $38,892,075. The trade was a 0.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,491,492 shares of company stock worth $421,797,778. Insiders own 6.80% of the company's stock.

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.

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