Bosman Wealth Management LLC Acquires Shares of 17,471 Nutanix (NASDAQ:NTNX)

Bosman Wealth Management LLC purchased a new stake in Nutanix (NASDAQ:NTNX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,471 shares of the technology company's stock, valued at approximately $1,220,000. Nutanix makes up approximately 1.2% of Bosman Wealth Management LLC's holdings, making the stock its 24th largest position.

Other institutional investors also recently modified their holdings of the company. LPL Financial LLC increased its holdings in shares of Nutanix by 4.8% in the fourth quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock valued at $4,389,000 after buying an additional 3,276 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Nutanix in the fourth quarter valued at $234,000. Assenagon Asset Management S.A. grew its position in Nutanix by 69.7% during the 1st 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 in the last quarter. Amalgamated Bank grew its position in Nutanix by 4.9% during the 1st quarter. Amalgamated Bank now owns 14,420 shares of the technology company's stock worth $1,007,000 after purchasing an additional 674 shares in the last quarter. Finally, Norges Bank purchased a new position in Nutanix during the 4th quarter worth approximately $195,758,000. Institutional investors own 85.25% of the company's stock.

Insider Buying and Selling at Nutanix

In related news, CEO Rajiv Ramaswami sold 61,057 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the sale, the chief executive officer directly owned 497,309 shares of the company's stock, valued at $39,287,411. This trade represents a 10.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the firm's stock in a transaction on 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 directly owned 5,480,468 shares of the company's stock, valued at $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,552,549 shares of company stock worth $426,621,281. 6.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Piper Sandler reiterated an "overweight" rating and set a $88.00 price objective (up from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Susquehanna lifted their price objective on shares of Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. KeyCorp began coverage on shares of Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Nutanix has an average rating of "Moderate Buy" and a consensus target price of $90.71.

Nutanix Price Performance

Shares of NASDAQ NTNX traded up $0.06 during mid-day trading on Monday, hitting $72.46. The company had a trading volume of 1,940,678 shares, compared to its average volume of 2,567,353. The business's 50-day simple moving average is $76.33 and its 200-day simple moving average is $70.46. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36. The firm has a market cap of $19.43 billion, a P/E ratio of 147.76, a PEG ratio of 6.69 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, beating the consensus estimate of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The business had revenue of $638.98 million during the quarter, compared to analysts' expectations of $626.12 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm's revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts predict that Nutanix will post 0.31 EPS 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.