Harbour Capital Advisors LLC Acquires New Shares in Nutanix (NASDAQ:NTNX)

Harbour Capital Advisors LLC purchased a new stake in Nutanix (NASDAQ:NTNX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,475 shares of the technology company's stock, valued at approximately $225,000.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Nutanix by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company's stock valued at $88,271,000 after acquiring an additional 33,980 shares during the last quarter. Sanctuary Advisors LLC grew its position in Nutanix by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company's stock worth $593,000 after acquiring an additional 325 shares during the last quarter. LPL Financial LLC increased its holdings in Nutanix by 4.8% during the 4th quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock valued at $4,389,000 after purchasing an additional 3,276 shares in the last quarter. HighTower Advisors LLC bought a new position in Nutanix in the 4th quarter valued at $234,000. Finally, Assenagon Asset Management S.A. raised its position in Nutanix by 69.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company's stock valued at $2,784,000 after purchasing an additional 16,374 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Price Performance

Shares of NASDAQ NTNX traded down $0.85 during mid-day trading on Wednesday, hitting $73.42. The company's stock had a trading volume of 1,848,002 shares, compared to its average volume of 2,535,699. Nutanix has a one year low of $43.35 and a one year high of $83.36. The company's fifty day simple moving average is $73.69 and its 200-day simple moving average is $69.49. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of -262.21, a price-to-earnings-growth ratio of 6.66 and a beta of 0.69.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $638.98 million for the quarter, compared to analysts' expectations of $626.12 million. During the same period last year, the firm earned $0.28 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts predict that Nutanix will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. Piper Sandler reiterated an "overweight" rating and set a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an "overweight" rating in a research report on Thursday, February 27th. Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 target price (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Nutanix from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $90.38.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the completion of the transaction, the chief financial officer now directly owns 209,070 shares in the company, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the sale, the director now directly owns 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,550,624 shares of company stock valued at $426,476,906 in the last 90 days. 6.80% of the stock is owned by company insiders.

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.