Mirae Asset Global Investments Co. Ltd. Makes New Investment in Nutanix $NTNX

Key Points

• Mirae Asset Global Investments opened a Nutanix position in the third quarter, buying 47,667 shares valued at approximately $3.36 million. Institutional investors collectively own 85.25% of the company.
• Nutanix beat quarterly earnings and revenue estimates, reporting EPS of $0.60 and revenue of $757.08 million, up 15.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $74.87; meanwhile, insiders have sold 674,351 shares worth about $49.7 million over the past 90 days.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,667 shares of the technology company's stock, valued at approximately $3,356,000.

A number of other hedge funds have also bought and sold shares of NTNX. Corient Private Wealth LP grew its holdings in Nutanix by 744.5% during the 2nd quarter. Corient Private Wealth LP now owns 44,623 shares of the technology company's stock worth $2,274,000 after acquiring an additional 39,339 shares during the period. Paralel Advisors LLC lifted its stake in shares of Nutanix by 58.6% in the 2nd quarter. Paralel Advisors LLC now owns 60,770 shares of the technology company's stock valued at $3,097,000 after purchasing an additional 22,453 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Nutanix by 628.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company's stock valued at $45,046,000 after purchasing an additional 1,022,516 shares during the period. WINTON GROUP Ltd boosted its position in shares of Nutanix by 381.3% during the 2nd quarter. WINTON GROUP Ltd now owns 135,180 shares of the technology company's stock valued at $6,889,000 after purchasing an additional 107,096 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Nutanix during the 2nd quarter valued at about $3,976,000. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Down 0.3%

Nutanix stock traded down $0.18 during midday trading on Friday, reaching $58.37. The stock had a trading volume of 2,438,665 shares, compared to its average volume of 2,375,651. The company has a fifty day moving average price of $68.99 and a two-hundred day moving average price of $52.87. Nutanix has a 12 month low of $34.01 and a 12 month high of $75.98. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $15.79 billion, a P/E ratio of 11.31, a PEG ratio of 3.19 and a beta of 0.72.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%. The business had revenue of $757.08 million for the quarter, compared to analyst estimates of $738.27 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company's quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts expect that Nutanix will post 1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

NTNX has been the subject of several recent analyst reports. Rosenblatt Securities raised their target price on Nutanix from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Guggenheim initiated coverage on Nutanix in a research note on Monday, October 26th. They issued a "buy" rating and a $100.00 price target on the stock. Keefe, Bruyette & Woods restated a "market perform" rating on shares of Nutanix in a report on Tuesday, August 25th. UBS Group set a $85.00 price target on Nutanix in a report on Thursday, August 27th. Finally, Bank of America reiterated a "buy" rating on shares of Nutanix in a research note on Thursday, August 27th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Nutanix presently has an average rating of "Moderate Buy" and a consensus target price of $74.87.

Insiders Place Their Bets

In other Nutanix news, CFO Rukmini Sivaraman sold 232,712 shares of the firm's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $74.55, for a total value of $17,348,679.60. Following the transaction, the chief financial officer directly owned 92,775 shares of the company's stock, valued at approximately $6,916,376.25. This trade represents a 71.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Sheppard sold 3,500 shares of Nutanix stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $73.67, for a total transaction of $257,845.00. Following the transaction, the director owned 23,488 shares of the company's stock, valued at $1,730,360.96. This represents a 12.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 674,351 shares of company stock worth $49,736,524. Insiders own 2.30% of the company's stock.

Nutanix Company Profile

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company's offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.