BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in Nutanix $NTNX

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Nutanix by 59.6% in the first quarter, owning a total of 84,889 shares valued at approximately $5.93 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Nutanix, with a price target ranging from $90 to $95, highlighting bullish sentiment from multiple research firms.
• Insiders, including CEO Rajiv Ramaswami, have sold significant portions of their shares, totaling over $421 million in the last quarter, indicating a potential shift in ownership dynamics within the company.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 59.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,889 shares of the technology company's stock after buying an additional 31,695 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Nutanix were worth $5,926,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC acquired a new position in shares of Nutanix during the fourth quarter worth $28,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Nutanix by 78.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Nutanix during the 1st quarter worth about $30,000. SouthState Corp purchased a new stake in Nutanix during the first quarter worth approximately $32,000. Finally, Fifth Third Bancorp lifted its stake in Nutanix by 98.4% during the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock worth $35,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Insider Activity

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction 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 transaction, the chief financial officer directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the transaction, the director owned 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,491,492 shares of company stock valued at $421,797,778. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

NTNX has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 target price for the company. Raymond James Financial cut shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Citigroup raised Nutanix to a "positive" rating in a report on Tuesday, August 5th. Wall Street Zen cut Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Finally, Susquehanna upped their target price on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Nutanix Stock Up 1.3%

NTNX stock traded up $0.85 during trading on Friday, hitting $68.79. The company had a trading volume of 2,798,226 shares, compared to its average volume of 2,348,404. 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 1-year low of $52.18 and a 1-year high of $83.36. The firm 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 posted its quarterly earnings data 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 company had revenue of $638.98 million during the quarter, compared to analysts' expectations of $626.12 million. During the same period last year, the firm earned $0.28 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that Nutanix will post 0.31 earnings per share for the current 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.