Nutanix (NASDAQ:NTNX) Position Increased by Inspire Advisors LLC

Key Points

• Inspire Advisors LLC increased its holdings in Nutanix by 1,163.7% during the 1st quarter, acquiring an additional 46,116 shares, bringing their total ownership to 50,079 shares valued at approximately $3.5 million.
• Nutanix reported $0.42 earnings per share for the latest quarter, exceeding analysts' expectations of $0.38 and demonstrating a year-over-year 21.8% revenue growth.
• Several analysts have set new price targets for Nutanix, with the Goldman Sachs Group issuing a "buy" rating and a target price of $95.00, indicating strong investment interest in the stock.

Inspire Advisors LLC grew its holdings in shares of Nutanix (NASDAQ:NTNX - Free Report) by 1,163.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,079 shares of the technology company's stock after buying an additional 46,116 shares during the quarter. Nutanix accounts for about 0.4% of Inspire Advisors LLC's investment portfolio, making the stock its 26th largest holding. Inspire Advisors LLC's holdings in Nutanix were worth $3,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NTNX. Colonial Trust Co SC bought a new position in Nutanix during the fourth quarter worth $28,000. MassMutual Private Wealth & Trust FSB lifted its stake in Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. GW&K Investment Management LLC bought a new position in Nutanix during the first quarter worth $30,000. Fifth Third Bancorp lifted its stake in Nutanix by 98.4% during the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock worth $35,000 after purchasing an additional 250 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Nutanix during the fourth quarter worth $70,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Price Performance

Shares of NTNX traded up $1.72 during trading hours on Wednesday, reaching $77.27. 771,585 shares of the company's stock traded hands, compared to its average volume of 2,499,795. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 151.59, a P/E/G ratio of 6.86 and a beta of 0.67. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36. The business's fifty day simple moving average is $75.45 and its two-hundred day simple moving average is $71.43.

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, topping analysts' consensus estimates of $0.38 by $0.04. The firm had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. Nutanix's revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. On average, equities research analysts expect that Nutanix will post 0.31 EPS for the current year.

Insider Transactions at Nutanix

In related news, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the transaction, the director directly owned 38,330 shares of the company's stock, valued at $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of Nutanix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the transaction, the director directly owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,552,549 shares of company stock valued at $426,621,281 in the last three months. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Susquehanna raised their price objective on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Thursday, May 29th. Wall Street Zen cut Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Raymond James Financial cut Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Piper Sandler reiterated an "overweight" rating and issued a $88.00 target price (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.