Bank of New York Mellon Corp Acquires 59,230 Shares of Nutanix (NASDAQ:NTNX)

Bank of New York Mellon Corp grew its stake in shares of Nutanix (NASDAQ:NTNX - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,134,043 shares of the technology company's stock after purchasing an additional 59,230 shares during the period. Bank of New York Mellon Corp owned about 0.43% of Nutanix worth $79,168,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Nutanix by 28.6% in the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock worth $40,000 after acquiring an additional 146 shares in the last quarter. True Wealth Design LLC boosted its stake in Nutanix by 13.2% in the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after purchasing an additional 146 shares during the period. Azzad Asset Management Inc. ADV grew its position in Nutanix by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock worth $2,134,000 after purchasing an additional 159 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after purchasing an additional 188 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Trading Down 1.6%

NASDAQ NTNX traded down $1.21 during trading on Friday, hitting $72.40. 2,055,078 shares of the company traded hands, compared to its average volume of 2,173,898. The business has a fifty day simple moving average of $76.34 and a 200 day simple moving average of $70.32. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36. The company has a market capitalization of $19.41 billion, a P/E ratio of 150.22, a PEG ratio of 6.80 and a beta of 0.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its 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. The firm had revenue of $638.98 million during 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 business's revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Equities research analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In related news, Director Groen Max Pieter De sold 5,480,467 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the sale, the director owned 5,480,468 shares of the company's stock, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the sale, the chief financial officer owned 209,070 shares in the company, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NTNX. Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Susquehanna lifted their target price on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Piper Sandler restated an "overweight" rating and set a $88.00 price target (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Finally, KeyCorp assumed coverage on shares of Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.71.

About Nutanix

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.