Northern Trust Corp Purchases 291,188 Shares of Nutanix $NTNX

Key Points

• Northern Trust Corp increased its stake in Nutanix by 19.6%, owning 1,778,753 shares worth approximately $124.2 million after purchasing an additional 291,188 shares in Q1.
• Insider selling was notable, with Director Virginia Gambale selling 7,000 shares for $546,000 and Director Groen Max Pieter De selling over 5.48 million shares worth nearly $421 million.
• Nutanix reported a Q1 earnings per share of $0.42, exceeding expectations, and a revenue of $638.98 million, representing a year-over-year increase of 21.8%.

Northern Trust Corp raised its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 19.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,778,753 shares of the technology company's stock after purchasing an additional 291,188 shares during the quarter. Northern Trust Corp owned 0.67% of Nutanix worth $124,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NTNX. Colonial Trust Co SC bought a new stake in shares of Nutanix in the fourth quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after acquiring an additional 191 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Nutanix in the first quarter worth approximately $30,000. SouthState Corp bought a new stake in shares of Nutanix in the first quarter worth approximately $32,000. Finally, Fifth Third Bancorp grew its stake in shares of Nutanix by 98.4% in the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock worth $35,000 after acquiring an additional 250 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Insider Activity

In other Nutanix 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. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of Nutanix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the transaction, the director directly owned 5,480,468 shares in the company, valued at $420,954,747.08. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,491,492 shares of company stock worth $421,797,778 over the last ninety days. Company insiders own 6.80% of the company's stock.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $68.79 on Friday. Nutanix has a 1-year low of $52.18 and a 1-year high of $83.36. The company has a market capitalization of $18.44 billion, a P/E ratio of 138.65, a P/E/G ratio of 4.48 and a beta of 0.71. The firm's 50 day simple moving average is $73.35 and its two-hundred day simple moving average is $72.00.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share 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 business had revenue of $638.98 million for the quarter, compared to the consensus estimate of $626.12 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company's revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that Nutanix will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NTNX shares. Piper Sandler reiterated an "overweight" rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. KeyCorp assumed 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. Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Finally, Citigroup upgraded shares of Nutanix to a "positive" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Nutanix presently has an average 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.

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