Axxcess Wealth Management LLC Acquires 4,375 Shares of Nutanix (NASDAQ:NTNX)

Axxcess Wealth Management LLC lifted its stake in Nutanix (NASDAQ:NTNX - Free Report) by 23.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,104 shares of the technology company's stock after purchasing an additional 4,375 shares during the quarter. Axxcess Wealth Management LLC's holdings in Nutanix were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NTNX. Harbour Investments Inc. raised its position in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock valued at $27,000 after acquiring an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new position in Nutanix during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB raised its position in Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Fifth Third Bancorp raised its position in Nutanix by 98.4% during the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock valued at $35,000 after acquiring an additional 250 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after acquiring an additional 146 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Up 0.1%

NTNX traded up $0.06 during trading on Monday, reaching $72.46. 1,940,678 shares of the company's stock were exchanged, compared to its average volume of 2,508,725. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $83.36. The business has a 50 day moving average price of $76.33 and a 200 day moving average price of $70.46. The company has a market capitalization of $19.43 billion, a P/E ratio of 147.76, a PEG ratio of 6.69 and a beta of 0.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The firm 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 company earned $0.28 earnings per share. The business's revenue was up 21.8% compared to the same quarter last year. As a group, research analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insider Activity

In other news, CEO Rajiv Ramaswami sold 1,925 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total value of $144,375.00. Following the sale, the chief executive officer owned 518,561 shares in the company, valued at approximately $38,892,075. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of the business's stock in a transaction 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 completion of the sale, the director 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 have sold a total of 5,552,549 shares of company stock worth $426,621,281 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NTNX has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target on the stock. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Susquehanna lifted their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Finally, Piper Sandler reissued an "overweight" rating and issued a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.71.

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.