Nutanix $NTNX Position Boosted by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its Nutanix stake by 744.5% in the second quarter, bringing its holdings to 44,623 shares valued at approximately $2.27 million. Institutional investors and hedge funds collectively own 85.25% of the company.
• Analysts maintain a generally positive outlook, with Nutanix receiving a consensus “Moderate Buy” rating and an average price target of $72.71; several firms recently raised their targets.
• Nutanix exceeded quarterly expectations, reporting $0.60 in adjusted EPS versus $0.49 expected and revenue of $757.08 million, up 15.9% year over year. The stock opened at $69.25, within a 52-week range of $34.01 to $78.45.

Corient Private Wealth LP increased its stake in Nutanix (NASDAQ:NTNX - Free Report) by 744.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,623 shares of the technology company's stock after purchasing an additional 39,339 shares during the quarter. Corient Private Wealth LP's holdings in Nutanix were worth $2,274,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Nutanix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,283,964 shares of the technology company's stock worth $272,452,000 after buying an additional 135,533 shares in the last quarter. Norges Bank acquired a new stake in shares of Nutanix in the fourth quarter worth about $187,169,000. Assenagon Asset Management S.A. boosted its stake in shares of Nutanix by 1,535.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,262,231 shares of the technology company's stock worth $166,243,000 after acquiring an additional 3,062,730 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its stake in shares of Nutanix by 27.3% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,107,481 shares of the technology company's stock worth $160,626,000 after acquiring an additional 666,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Nutanix by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,315,778 shares of the technology company's stock valued at $119,703,000 after acquiring an additional 23,185 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on NTNX. Wells Fargo & Company increased their price target on Nutanix from $55.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, August 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of Nutanix in a research note on Thursday, May 28th. Barclays lifted their target price on shares of Nutanix from $53.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, August 28th. Wall Street Zen raised shares of Nutanix from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Morgan Stanley upped their price target on shares of Nutanix from $55.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, August 27th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $72.71.

Nutanix Trading Down 1.1%

NASDAQ NTNX opened at $69.25 on Wednesday. Nutanix has a 52 week low of $34.01 and a 52 week high of $78.45. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.78 and a current ratio of 1.80. The stock's 50 day moving average price is $63.76 and its two-hundred day moving average price is $51.58. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.97 and a beta of 0.62.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The company had revenue of $757.08 million for the quarter, compared to analysts' expectations of $738.27 million. During the same period in the prior year, the firm earned $0.37 EPS. Nutanix's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Nutanix will post 1.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 38,139 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $70.00, for a total transaction of $2,669,730.00. Following the transaction, the chief financial officer directly owned 325,487 shares of the company's stock, valued at approximately $22,784,090. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.40% of the stock is currently owned by insiders.

Nutanix Profile

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company's offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.

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