Hsbc Holdings PLC Purchases 467,808 Shares of Nutanix $NTNX

Key Points

• HSBC Holdings PLC increased its Nutanix stake by 374.9% in the first quarter, buying 467,808 additional shares and bringing its total to 592,587 shares worth about $22.7 million.
• Several analysts remain constructive on Nutanix, with recent price target increases from firms like Morgan Stanley and Bank of America. The stock’s consensus rating is now Moderate Buy with an average target price of $60.
• Nutanix reported stronger-than-expected quarterly results, posting $0.47 EPS on revenue of $703.1 million, while revenue rose 10% year over year. The stock was down 1.7% in recent trading, despite the earnings beat.

Hsbc Holdings PLC boosted its position in Nutanix (NASDAQ:NTNX - Free Report) by 374.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,587 shares of the technology company's stock after buying an additional 467,808 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Nutanix worth $22,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Nutanix during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Nutanix during the 4th quarter valued at $39,000. Covestor Ltd grew its holdings in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company's stock valued at $40,000 after purchasing an additional 324 shares during the last quarter. Harbour Investments Inc. raised its position in Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock worth $42,000 after purchasing an additional 502 shares during the period. Finally, GW&K Investment Management LLC raised its position in Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company's stock worth $51,000 after purchasing an additional 432 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NTNX. Morgan Stanley upped their price target 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. Bank of America lifted their price objective on Nutanix from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. The Goldman Sachs Group reissued a "buy" rating on shares of Nutanix in a research note on Thursday, May 28th. Northland Securities set a $47.00 target price on Nutanix in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded Nutanix from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $60.00.

Nutanix Stock Down 1.7%

NASDAQ:NTNX opened at $54.19 on Wednesday. The firm has a market capitalization of $14.65 billion, a P/E ratio of 57.04, a P/E/G ratio of 4.86 and a beta of 0.61. The company has a fifty day moving average of $50.44 and a 200 day moving average of $44.86. Nutanix has a 52 week low of $34.01 and a 52 week 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 analysts' consensus estimates of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business had revenue of $703.07 million for the quarter, compared to analyst estimates of $686.34 million. During the same quarter last year, the firm earned $0.22 EPS. The company's revenue was up 10.0% on a year-over-year basis. As a group, analysts anticipate that Nutanix will post 0.71 EPS for the current year.

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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