Nutanix (NASDAQ:NTNX) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Nutanix shares by 10.6%, owning a total of 197,377 shares valued at approximately $13.8 million.
• Following quarterly earnings that exceeded expectations, Nutanix reported a 21.8% year-over-year revenue growth, with an EPS of $0.42 against an estimated $0.38.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Nutanix, with a target price of $91.00 as several firms have issued buy ratings.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,377 shares of the technology company's stock after purchasing an additional 18,904 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Nutanix worth $13,779,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTNX. Envestnet Asset Management Inc. boosted its position in Nutanix by 22.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 41,686 shares of the technology company's stock valued at $2,550,000 after buying an additional 7,728 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Nutanix by 49.2% during the 4th quarter. Sterling Capital Management LLC now owns 11,761 shares of the technology company's stock valued at $720,000 after acquiring an additional 3,879 shares during the period. Mariner LLC boosted its holdings in shares of Nutanix by 70.4% in the 4th quarter. Mariner LLC now owns 15,589 shares of the technology company's stock valued at $954,000 after acquiring an additional 6,439 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Nutanix by 44.7% in the 4th quarter. Guggenheim Capital LLC now owns 11,480 shares of the technology company's stock valued at $702,000 after acquiring an additional 3,544 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in shares of Nutanix in the fourth quarter worth $13,625,000. 85.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Susquehanna boosted their target price 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. The Goldman Sachs Group assumed coverage on Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price objective for the company. Raymond James Financial lowered Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. Morgan Stanley reiterated an "overweight" rating and set a $90.00 price target (up from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Finally, Wall Street Zen lowered Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Nutanix Stock Down 3.9%

Shares of NASDAQ NTNX opened at $68.81 on Tuesday. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 146.12, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. The company's 50-day simple moving average is $74.54 and its 200-day simple moving average is $71.99. Nutanix has a 52-week low of $49.16 and a 52-week high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The company had revenue of $638.98 million for the quarter, compared to analysts' expectations of $626.12 million. During the same period in the previous year, the firm posted $0.28 EPS. Nutanix's revenue was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 1,925 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the sale, the chief executive officer owned 518,561 shares of the company's stock, valued at $38,892,075. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the completion of the transaction, the chief financial officer directly owned 209,070 shares in the company, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,491,492 shares of company stock valued at $421,797,778 over the last ninety days. Company insiders own 6.80% of the company's stock.

About Nutanix

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.