Fifth Third Bancorp Buys 65,106 Shares of Nutanix $NTNX

Key Points

• Fifth Third Bancorp dramatically increased its Nutanix stake in the first quarter, buying 65,106 additional shares and lifting its holdings by 9,195.8% to 65,814 shares valued at about $2.5 million.
• Nutanix reported a strong recent quarter, with earnings of $0.47 per share topping estimates and revenue of $703.1 million, up 10% year over year.
• Wall Street sentiment is mixed but generally positive: Nutanix has a Moderate Buy consensus rating, with analysts setting an average price target of $60, above its recent trading price around $55.11.

Fifth Third Bancorp lifted its stake in shares of Nutanix (NASDAQ:NTNX - Free Report) by 9,195.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 65,814 shares of the technology company's stock after buying an additional 65,106 shares during the quarter. Fifth Third Bancorp's holdings in Nutanix were worth $2,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Account Management LLC bought a new stake in shares of Nutanix during the first quarter worth approximately $1,710,000. Hsbc Holdings PLC lifted its holdings in Nutanix by 374.9% during the 1st quarter. Hsbc Holdings PLC now owns 592,587 shares of the technology company's stock worth $22,723,000 after purchasing an additional 467,808 shares during the last quarter. Summit Securities Group LLC boosted its stake in Nutanix by 120.4% in the 1st quarter. Summit Securities Group LLC now owns 2,988 shares of the technology company's stock valued at $114,000 after purchasing an additional 1,632 shares during the period. Texas Bank & Trust Co boosted its stake in Nutanix by 23.1% in the 1st quarter. Texas Bank & Trust Co now owns 8,000 shares of the technology company's stock valued at $304,000 after purchasing an additional 1,500 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its holdings in Nutanix by 1.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 49,412 shares of the technology company's stock valued at $1,878,000 after buying an additional 714 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

NTNX stock opened at $55.11 on Tuesday. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 58.01, a P/E/G ratio of 4.85 and a beta of 0.61. The company has a 50 day simple moving average of $50.25 and a 200 day simple moving average of $44.84. Nutanix has a 1 year low of $34.01 and a 1 year high of $82.42.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.12. The company had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts anticipate that Nutanix will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Nutanix from $53.00 to $55.00 and gave the company an "equal weight" rating in a research report on Thursday, May 28th. Piper Sandler reiterated an "overweight" rating on shares of Nutanix in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Nutanix from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Nutanix in a report on Wednesday, June 24th. Finally, UBS Group increased their target price on shares of Nutanix from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Nutanix has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Nutanix Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company's product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.

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