California State Teachers Retirement System Acquires 14,569,274 Shares of Nutanix $NTNX

Key Points

• California State Teachers Retirement System dramatically increased its Nutanix stake by purchasing 14.57 million shares in the second quarter, bringing its total to 14.87 million shares, or approximately 5.5% of the company valued at $757.8 million.
• Institutional investors own approximately 85.25% of Nutanix, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $72.71. Piper Sandler raised its target to $75, and Barclays increased its target to $75 while retaining an “equal weight” rating.
• Nutanix exceeded quarterly expectations, reporting $0.60 in EPS versus the $0.49 consensus and $757.1 million in revenue, up 15.9% year over year. Shares opened at $65.92, compared with a 52-week range of $34.01 to $82.42.

California State Teachers Retirement System grew its holdings in Nutanix (NASDAQ:NTNX - Free Report) by 4,834.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,870,638 shares of the technology company's stock after purchasing an additional 14,569,274 shares during the period. California State Teachers Retirement System owned about 5.50% of Nutanix worth $757,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC lifted its stake in Nutanix by 28.6% in the second quarter. CoreCap Advisors LLC now owns 900 shares of the technology company's stock worth $46,000 after acquiring an additional 200 shares during the period. Utah Retirement Systems boosted its stake in shares of Nutanix by 0.6% during the fourth quarter. Utah Retirement Systems now owns 42,355 shares of the technology company's stock valued at $2,189,000 after purchasing an additional 257 shares in the last quarter. International Assets Investment Management LLC raised its stake in Nutanix by 5.8% in the first quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company's stock worth $179,000 after buying an additional 259 shares in the last quarter. CX Institutional lifted its holdings in Nutanix by 134.6% during the second quarter. CX Institutional now owns 488 shares of the technology company's stock worth $25,000 after buying an additional 280 shares during the period. Finally, Summit Securities Group LLC boosted its position in Nutanix by 26.4% during the 4th quarter. Summit Securities Group LLC now owns 1,356 shares of the technology company's stock valued at $70,000 after acquiring an additional 283 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group set a $85.00 price objective on Nutanix in a research note on Thursday, August 27th. Zacks Research downgraded Nutanix from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Piper Sandler reiterated an "overweight" rating and set a $75.00 price objective (up from $60.00) on shares of Nutanix in a report on Thursday, August 27th. Bank of America restated a "buy" rating on shares of Nutanix in a report on Thursday, August 27th. Finally, Barclays increased their price objective on shares of Nutanix from $53.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, August 28th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Nutanix presently has an average rating of "Moderate Buy" and a consensus target price of $72.71.

Nutanix Price Performance

NTNX stock opened at $65.92 on Monday. Nutanix has a one year low of $34.01 and a one year high of $82.42. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.78 and a current ratio of 1.80. The firm's fifty day moving average is $61.71 and its 200 day moving average is $50.12. The firm has a market cap of $17.82 billion, a PE ratio of 12.78, a P/E/G ratio of 3.74 and a beta of 0.62.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.11. The firm had revenue of $757.08 million for the quarter, compared to analysts' expectations of $738.27 million. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. On average, research analysts forecast that Nutanix will post 1.02 EPS for the current year.

About Nutanix

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company's offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.

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