Bosman Wealth Management LLC Makes New Investment in Nutanix (NASDAQ:NTNX)

Bosman Wealth Management LLC purchased a new position in Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,471 shares of the technology company's stock, valued at approximately $1,220,000. Nutanix makes up about 1.2% of Bosman Wealth Management LLC's portfolio, making the stock its 24th largest holding.

Several other institutional investors have also modified their holdings of NTNX. Larson Financial Group LLC grew its stake in shares of Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock worth $40,000 after purchasing an additional 146 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Nutanix by 13.2% during the fourth 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 in the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Nutanix by 0.5% during the fourth 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. Concurrent Investment Advisors LLC lifted its position in Nutanix by 4.4% in the first quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company's stock valued at $291,000 after acquiring an additional 177 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in Nutanix by 3.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Nutanix Trading Down 3.8%

Shares of NTNX opened at $73.61 on Friday. The firm's 50-day moving average is $76.34 and its two-hundred day moving average is $70.32. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36. The firm has a market capitalization of $19.73 billion, a P/E ratio of 156.22, a PEG ratio of 7.07 and a beta of 0.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $638.98 million for 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 firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. Analysts predict that Nutanix will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Wall Street Zen cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Needham & Company LLC reissued a "buy" rating and issued a $92.00 price target on shares of Nutanix in a research report on Thursday, May 29th. Susquehanna boosted their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.71.

Insider Activity

In related news, CEO Rajiv Ramaswami sold 61,057 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the transaction, the chief executive officer owned 497,309 shares of the company's stock, valued at approximately $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $152,733.00. Following the transaction, the chief financial officer directly owned 209,070 shares in the company, valued at $15,205,661.10. The trade was a 0.99% decrease in their position. 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 corporate 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.

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