iA Global Asset Management Inc. Has $8.07 Million Holdings 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. raised its stake in Nutanix (NASDAQ:NTNX - Free Report) by 1,601.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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.

A number of other hedge funds have also recently bought and sold shares of NTNX. Colonial Trust Co SC acquired a new position in shares of Nutanix in the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Nutanix by 78.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after buying an additional 191 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of Nutanix in the 1st quarter valued at $30,000. Fifth Third Bancorp raised its stake in shares of Nutanix by 98.4% in the 1st quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock valued at $35,000 after buying an additional 250 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of Nutanix in the 4th quarter valued at $70,000. 85.25% of the stock is owned by institutional investors.

Nutanix Price Performance

Shares of NASDAQ NTNX traded down $0.98 during mid-day trading on Friday, hitting $71.60. The company's stock had a trading volume of 1,976,150 shares, compared to its average volume of 1,984,088. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 146.12, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. Nutanix has a one year low of $48.54 and a one year high of $83.36. The company's fifty day simple moving average is $74.71 and its 200-day simple moving average is $71.92.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. During the same quarter last year, the firm earned $0.28 EPS. The company'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.

Insider Activity

In related news, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total transaction of $546,000.00. Following the transaction, the director owned 38,330 shares of the company's stock, valued at $2,989,740. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 2,100 shares of Nutanix stock in a transaction that occurred on Monday, June 16th. The shares were 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 directly owned 209,070 shares in the company, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,552,549 shares of company stock worth $426,621,281 over the last quarter. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

NTNX has been the subject of a number of recent analyst reports. Susquehanna increased 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. The Goldman Sachs Group initiated 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. Wall Street Zen cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. KeyCorp initiated coverage on shares of Nutanix in a research report on Thursday, June 26th. They set an "overweight" rating and a $95.00 target price for the company. Finally, Citigroup upgraded shares of Nutanix to a "positive" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.00.

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.