Cerity Partners LLC Purchases 35,688 Shares of Nutanix (NASDAQ:NTNX)

Cerity Partners LLC grew its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 98.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,106 shares of the technology company's stock after purchasing an additional 35,688 shares during the quarter. Cerity Partners LLC's holdings in Nutanix were worth $5,034,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Nutanix in the 4th quarter valued at $195,758,000. Pictet Asset Management Holding SA increased its stake in shares of Nutanix by 6,785.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after acquiring an additional 2,108,269 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Nutanix in the 4th quarter valued at $91,639,000. Contour Asset Management LLC bought a new stake in shares of Nutanix in the 4th quarter valued at $87,318,000. Finally, Perpetual Ltd increased its stake in shares of Nutanix by 10,205.2% in the 1st quarter. Perpetual Ltd now owns 875,946 shares of the technology company's stock valued at $61,150,000 after acquiring an additional 867,446 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the transaction, the director directly owned 38,330 shares of the company's stock, valued at approximately $2,989,740. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 1,925 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total value of $144,375.00. Following the completion of the transaction, the chief executive officer directly owned 518,561 shares in the company, valued at approximately $38,892,075. This represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,552,549 shares of company stock valued at $426,621,281 over the last quarter. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

NTNX has been the subject of a number of recent research reports. Piper Sandler restated an "overweight" rating and set a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research note 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 note on Thursday, May 29th. KeyCorp began coverage on shares of Nutanix in a report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price objective on the stock. Raymond James Financial downgraded shares of Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group began coverage on shares of Nutanix in a report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Nutanix Stock Up 0.9%

Shares of Nutanix stock traded up $0.71 on Friday, hitting $75.55. The stock had a trading volume of 1,427,778 shares, compared to its average volume of 2,464,114. Nutanix has a one year low of $43.35 and a one year high of $83.36. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 154.18, a PEG ratio of 6.98 and a beta of 0.67. The stock's 50-day simple moving average is $76.39 and its two-hundred day simple moving average is $70.84.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 EPS 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 analyst estimates of $626.12 million. During the same quarter last year, the firm posted $0.28 earnings per share. The firm's revenue was up 21.8% on a year-over-year basis. As a group, equities analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

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.