9,941 Shares in Nutanix (NASDAQ:NTNX) Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP purchased 9,941 shares of Nutanix (NASDAQ: NTNX) valued at approximately $694,000 during the first quarter, marking a significant investment in the technology company's stock.
• Multiple institutional investors, including Bridgewater Associates LP and Mariner LLC, have significantly increased their stakes in Nutanix, reflecting strong institutional interest with 85.25% of the company owned by such investors.
• Analysts have raised their price targets for Nutanix, with Piper Sandler setting it at $88.00 and Morgan Stanley at $90.00, indicating a general optimism about the company's future performance.

Entropy Technologies LP purchased a new position in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,941 shares of the technology company's stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also modified their holdings of NTNX. True Wealth Design LLC grew its position in shares of Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after buying an additional 146 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in 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 acquiring an additional 159 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Nutanix by 4.4% in the first quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company's stock worth $291,000 after acquiring an additional 177 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Nutanix by 78.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Nutanix by 5.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company's stock valued at $220,000 after purchasing an additional 196 shares during the period. 85.25% of the stock is owned by institutional investors.

Nutanix Price Performance

Nutanix stock traded up $0.07 during mid-day trading on Friday, hitting $68.68. 2,340,912 shares of the company's stock traded hands, compared to its average volume of 2,496,128. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 143.24, a P/E/G ratio of 4.89 and a beta of 0.71. The firm has a 50 day simple moving average of $73.87 and a two-hundred day simple moving average of $72.01. Nutanix has a fifty-two week low of $51.11 and a fifty-two week high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company had revenue of $638.98 million during the quarter, compared to analysts' expectations of $626.12 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. Nutanix's quarterly revenue was up 21.8% on a year-over-year basis. On average, research analysts anticipate that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of Nutanix stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the transaction, the chief financial officer directly owned 209,070 shares of the company's stock, valued at $15,205,661.10. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the transaction, the director owned 5,480,468 shares in the company, valued at $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 ninety days, insiders have sold 5,491,492 shares of company stock valued at $421,797,778. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NTNX has been the topic of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. The Goldman Sachs Group started coverage on Nutanix in a research report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 target price on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $88.00 price target (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $92.00 price objective on shares of Nutanix in a research note on Thursday, May 29th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.00.

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.