Asahi Life Asset Management CO. LTD. Invests $349,000 in Nutanix (NASDAQ:NTNX)

Asahi Life Asset Management CO. LTD. bought 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 & Exchange Commission. The institutional investor bought 5,000 shares of the technology company's stock, valued at approximately $349,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in Nutanix by 4.8% during the fourth quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock worth $4,389,000 after purchasing an additional 3,276 shares during the last quarter. HighTower Advisors LLC bought a new stake in Nutanix during the fourth quarter worth $234,000. Assenagon Asset Management S.A. lifted its stake in Nutanix by 69.7% during the first quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company's stock worth $2,784,000 after purchasing an additional 16,374 shares during the last quarter. Amalgamated Bank lifted its stake in Nutanix by 4.9% during the first quarter. Amalgamated Bank now owns 14,420 shares of the technology company's stock worth $1,007,000 after purchasing an additional 674 shares during the last quarter. Finally, Norges Bank bought a new stake in Nutanix during the fourth quarter worth $195,758,000. 85.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTNX. KeyCorp began coverage on Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target for the company. Morgan Stanley reiterated 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 reiterated 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. Susquehanna increased their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial cut Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Nutanix Price Performance

NASDAQ NTNX traded up $1.29 on Thursday, reaching $74.84. The company had a trading volume of 2,642,214 shares, compared to its average volume of 2,471,595. The firm has a market cap of $20.06 billion, a price-to-earnings ratio of 150.10, a P/E/G ratio of 6.79 and a beta of 0.67. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $83.36. The business has a 50 day moving average of $76.38 and a two-hundred day moving average of $70.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share 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 firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same period last year, the business posted $0.28 EPS. The business's revenue was up 21.8% compared to the same quarter last year. As a group, research analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 7,000 shares of the 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 completion of the sale, the director directly owned 38,330 shares in the company, valued at approximately $2,989,740. This trade represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the sale, the chief financial officer owned 209,070 shares of the company's stock, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. 6.80% of the stock is currently owned by insiders.

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.