iA Global Asset Management Inc. Raises Position in Nutanix (NASDAQ:NTNX)

Key Points

• iA Global Asset Management Inc. increased its position in Nutanix by an impressive 1,601.7%, acquiring a total of 115,560 shares worth approximately $8.07 million.
• Nutanix reported earnings of $0.42 per share, exceeding analysts' expectations, with a revenue increase of 21.8% year-over-year.
• The company's current stock price is around $73.30, with an analyst consensus rating of "Moderate Buy" and an average price target of $91.00.

iA Global Asset Management Inc. lifted its stake in Nutanix (NASDAQ:NTNX - Free Report) by 1,601.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,560 shares of the technology company's stock after purchasing an additional 108,769 shares during the period. iA Global Asset Management Inc.'s holdings in Nutanix were worth $8,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of Nutanix by 4.8% in the fourth 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 during the period. Assenagon Asset Management S.A. raised its position in Nutanix by 69.7% during the first quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company's stock worth $2,784,000 after acquiring an additional 16,374 shares during the last quarter. Amalgamated Bank raised its position in Nutanix by 4.9% during the first quarter. Amalgamated Bank now owns 14,420 shares of the technology company's stock worth $1,007,000 after acquiring an additional 674 shares during the last quarter. GAMMA Investing LLC raised its position in Nutanix by 63.7% during the first quarter. GAMMA Investing LLC now owns 2,768 shares of the technology company's stock worth $193,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Nutanix during the first quarter worth about $2,596,000. Institutional investors and hedge funds own 85.25% of the company's stock.

Nutanix Stock Performance

Nutanix stock opened at $73.30 on Wednesday. Nutanix has a 1 year low of $46.19 and a 1 year high of $83.36. The firm has a 50 day moving average price of $74.91 and a 200 day moving average price of $71.76. The company has a market cap of $19.65 billion, a price-to-earnings ratio of 150.53, a PEG ratio of 5.14 and a beta of 0.71.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $626.12 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Nutanix's revenue was up 21.8% compared to the same quarter last year. Sell-side analysts predict that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the sale, the chief executive officer directly owned 518,561 shares in the company, valued at $38,892,075. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the sale, the director owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,552,549 shares of company stock valued at $426,621,281 in the last ninety days. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTNX. Susquehanna lifted their target price on shares of Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Thursday, May 29th. Raymond James Financial cut shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group began coverage on shares of Nutanix in a research report on Tuesday, July 15th. They set a "buy" rating and a $95.00 target price for the company. Piper Sandler restated an "overweight" rating and set a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $91.00.

Nutanix Profile

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.

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