M&T Bank Corp Purchases 1,274,076 Shares of Nutanix $NTNX

Key Points

• M&T Bank Corp dramatically increased its stake in Nutanix in Q4—buying 1,274,076 shares to hold 1,281,342 shares (about 0.47% of the company) valued at $66.23 million, a 17,534.8% increase on the quarter.
• Nutanix beat Q4 expectations with $0.56 EPS (vs. $0.44 expected) and $722.8M revenue (up 10.4% YoY), and analysts maintain a consensus "Moderate Buy" rating with a $60.87 average price target despite recent downward revisions by some firms.

M&T Bank Corp boosted its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 17,534.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,281,342 shares of the technology company's stock after acquiring an additional 1,274,076 shares during the period. M&T Bank Corp owned 0.47% of Nutanix worth $66,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its stake in Nutanix by 102.6% during the 4th quarter. Evergreen Capital Management LLC now owns 9,484 shares of the technology company's stock worth $490,000 after acquiring an additional 4,803 shares during the period. GraniteShares Advisors LLC raised its stake in Nutanix by 27.3% during the 4th quarter. GraniteShares Advisors LLC now owns 9,080 shares of the technology company's stock worth $469,000 after acquiring an additional 1,947 shares during the period. Asset Management One Co. Ltd. raised its stake in Nutanix by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,016 shares of the technology company's stock worth $4,868,000 after acquiring an additional 260 shares during the period. Chicago Capital LLC bought a new stake in Nutanix during the 4th quarter worth approximately $526,000. Finally, CWC Advisors LLC. raised its stake in Nutanix by 105.2% during the 4th quarter. CWC Advisors LLC. now owns 11,566 shares of the technology company's stock worth $598,000 after acquiring an additional 5,930 shares during the period. Institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Nutanix stock opened at $41.07 on Wednesday. The stock has a market cap of $10.89 billion, a P/E ratio of 44.64, a PEG ratio of 4.54 and a beta of 0.52. Nutanix has a 1 year low of $34.01 and a 1 year high of $83.36. The firm's 50 day moving average price is $39.55 and its 200-day moving average price is $49.83.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The firm had revenue of $722.83 million during the quarter, compared to analyst estimates of $709.83 million. During the same period last year, the firm posted $0.47 earnings per share. Nutanix's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts expect that Nutanix will post 0.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Bank of America decreased their target price on shares of Nutanix from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Barclays reduced their price objective on shares of Nutanix from $53.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 26th. Rosenblatt Securities assumed coverage on shares of Nutanix in a research report on Thursday, April 2nd. They set a "buy" rating and a $60.00 price objective on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Nutanix in a research report on Friday, March 27th. Finally, The Goldman Sachs Group reduced their price objective on shares of Nutanix from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.87.

Nutanix Company 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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