First Trust Advisors LP Grows Position in Nutanix $NTNX

Key Points

• First Trust Advisors LP increased its Nutanix (NASDAQ:NTNX) holding by 1.1% in Q3 to 3,199,470 shares, representing a 1.19% ownership worth about $238,008,000.
• Institutional interest is strong — Norges Bank opened a new roughly $263.9M position and several large funds (Swiss National Bank, Prudential, Schroder) materially boosted stakes, leaving institutional ownership at about 85.25%.
• Nutanix beat the quarter with $0.56 EPS and $722.8M revenue (up 10.4% YoY); analysts give a consensus Moderate Buy rating with an average price target of $62.43 despite recent downward price-target revisions.

First Trust Advisors LP grew its holdings in Nutanix (NASDAQ:NTNX - Free Report) by 1.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,199,470 shares of the technology company's stock after buying an additional 34,646 shares during the period. First Trust Advisors LP owned 1.19% of Nutanix worth $238,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd grew its holdings in Nutanix by 67.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,017 shares of the technology company's stock valued at $2,218,000 after buying an additional 11,670 shares in the last quarter. Norges Bank purchased a new position in shares of Nutanix during the 2nd quarter worth $263,938,000. Swiss National Bank boosted its position in shares of Nutanix by 6.7% during the 2nd quarter. Swiss National Bank now owns 766,300 shares of the technology company's stock valued at $58,576,000 after acquiring an additional 48,400 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Nutanix by 1,069.5% during the 2nd quarter. Prudential Financial Inc. now owns 222,472 shares of the technology company's stock valued at $15,560,000 after acquiring an additional 203,449 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Nutanix by 19.1% in the second quarter. Schroder Investment Management Group now owns 1,190,376 shares of the technology company's stock valued at $90,992,000 after purchasing an additional 191,314 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Price Performance

NASDAQ NTNX opened at $39.83 on Friday. The stock has a market capitalization of $10.77 billion, a P/E ratio of 43.29, a PEG ratio of 3.53 and a beta of 0.49. The firm's 50-day moving average is $43.90 and its two-hundred day moving average is $57.65. Nutanix has a 12 month low of $35.39 and a 12 month high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The business had revenue of $722.83 million during the quarter, compared to analysts' expectations of $709.83 million. During the same period last year, the business earned $0.47 earnings per share. The business's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts anticipate that Nutanix will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

NTNX has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on shares of Nutanix from $62.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 24th. Piper Sandler dropped their price target on shares of Nutanix from $72.00 to $63.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Wells Fargo & Company cut their price target on shares of Nutanix from $57.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Northland Securities reduced their price target on shares of Nutanix from $76.00 to $53.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 26th. Finally, The Goldman Sachs Group decreased their price objective on Nutanix from $75.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, February 9th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.43.

About Nutanix

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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