Federated Hermes Inc. Has $169.22 Million Stake in Nutanix (NASDAQ:NTNX)

Key Points

• Federated Hermes Inc. has increased its stake in Nutanix (NTNX) by 21.2% during the first quarter, now owning 2,423,978 shares valued at approximately $169 million.
• Analysts have a generally positive outlook on Nutanix, with a consensus rating of "Moderate Buy" and a target price averaging around $91.00.
• Insider transactions revealed significant stock sales, with Director Groen Max Pieter De selling over 5.4 million shares for around $421 million, marking a 50% reduction in ownership.

Federated Hermes Inc. lifted its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 21.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,423,978 shares of the technology company's stock after buying an additional 423,249 shares during the period. Federated Hermes Inc. owned approximately 0.91% of Nutanix worth $169,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NTNX. Colonial Trust Co SC acquired a new stake in Nutanix in the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. GW&K Investment Management LLC bought a new position in shares of Nutanix during the first quarter worth about $30,000. Fifth Third Bancorp lifted its holdings in 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 last quarter. Finally, Raiffeisen Bank International AG bought a new position in Nutanix in the fourth quarter worth about $70,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nutanix

In other Nutanix news, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the transaction, the director directly owned 38,330 shares in the company, valued at $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction dated Monday, June 16th. The shares were 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 owned 209,070 shares in the company, valued at approximately $15,205,661.10. This trade 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 5,552,549 shares of company stock valued at $426,621,281 in the last 90 days. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NTNX. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group assumed coverage on shares of Nutanix in a research note on Tuesday, July 15th. They set a "buy" rating and a $95.00 target price for the company. Morgan Stanley reissued an "overweight" rating and set a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Finally, KeyCorp began coverage on shares of Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded down $3.41 on Friday, hitting $71.76. 1,420,718 shares of the company were exchanged, compared to its average volume of 2,494,562. The company's 50 day moving average price is $75.30 and its two-hundred day moving average price is $71.55. Nutanix has a one year low of $43.35 and a one year high of $83.36. The firm has a market capitalization of $19.24 billion, a price-to-earnings ratio of 156.63, a PEG ratio of 7.07 and a beta of 0.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its 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 analyst estimates of $626.12 million. During the same period in the previous year, the business earned $0.28 EPS. The firm's revenue was up 21.8% on a year-over-year basis. Research analysts predict that Nutanix will post 0.31 earnings per share for the current year.

Nutanix Company 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.