Highland Capital Management LLC Makes New Investment in Nutanix $NTNX

Key Points

• Highland Capital Management LLC acquired a new position of 34,331 shares of Nutanix in the fourth quarter, valued at approximately $1.775 million.
• Nutanix beat quarterly expectations with EPS of $0.56 versus a $0.44 consensus and revenue of $722.8 million, up 10.4% year-over-year.
• Institutional investors own about 85.25% of Nutanix, and analysts maintain a consensus "Moderate Buy" with a $60.87 target despite several recent price-target reductions.

Highland Capital Management LLC acquired a new position in shares of Nutanix (NASDAQ:NTNX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 34,331 shares of the technology company's stock, valued at approximately $1,775,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Nutanix during the fourth quarter worth about $39,000. Optiver Holding B.V. acquired a new position in shares of Nutanix during the third quarter worth about $68,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Nutanix by 135.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,059 shares of the technology company's stock worth $79,000 after purchasing an additional 609 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Nutanix by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,223 shares of the technology company's stock worth $94,000 after purchasing an additional 291 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Nutanix by 673.8% during the third quarter. Hantz Financial Services Inc. now owns 1,478 shares of the technology company's stock worth $110,000 after purchasing an additional 1,287 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $44.00 price objective on shares of Nutanix in a research note on Friday, April 10th. Wells Fargo & Company reduced their price objective on Nutanix from $57.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 26th. Barclays reduced their price objective on Nutanix from $53.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 26th. Wall Street Zen cut Nutanix from a "buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Finally, Bank of America cut their price target on Nutanix from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.87.

Nutanix Stock Performance

NASDAQ:NTNX opened at $43.43 on Wednesday. Nutanix has a one year low of $34.01 and a one year high of $83.36. The business's 50-day simple moving average is $39.55 and its 200 day simple moving average is $48.22. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 4.89 and a beta of 0.54.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The business had revenue of $722.83 million for the quarter, compared to analysts' expectations of $709.83 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company's revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that Nutanix will post 0.56 EPS for the current year.

Nutanix Company 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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