Nuveen LLC Invests $86.95 Million in Nutanix (NASDAQ:NTNX)

Key Points

• Nuveen LLC has acquired 1,245,512 shares of Nutanix (NASDAQ:NTNX), worth approximately $86.9 million, representing 0.47% of the company's stock as of their latest filing.
• Analysts have set a consensus target price of $91.00 for Nutanix, with 15 analysts rating it as a buy and one rating it as a strong buy.
• Insider trading activity shows that a total of 5,491,492 shares have been sold by corporate insiders in the last ninety days, indicating potential shifts in confidence among executives.

Nuveen LLC purchased a new position in shares of Nutanix (NASDAQ:NTNX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,245,512 shares of the technology company's stock, valued at approximately $86,949,000. Nuveen LLC owned 0.47% of Nutanix as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NTNX. Colonial Trust Co SC purchased a new position in Nutanix in the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased 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 acquiring an additional 191 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Nutanix during the first quarter worth about $30,000. Fifth Third Bancorp increased its position in shares of Nutanix by 98.4% during 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 purchased a new stake in shares of Nutanix during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NTNX shares. Susquehanna lifted their target price on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $90.00 target price (up from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. KeyCorp began coverage on Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target for the company. Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Finally, The Goldman Sachs Group began coverage on Nutanix in a research note on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price target for the company. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Nutanix currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Insider Transactions at Nutanix

In other Nutanix news, Director Groen Max Pieter De sold 5,480,467 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer owned 209,070 shares of the company's stock, valued at approximately $15,205,661.10. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,491,492 shares of company stock valued at $421,797,778. 6.80% of the stock is currently owned by company insiders.

Nutanix Price Performance

Shares of NASDAQ NTNX traded up $0.07 during midday trading on Friday, hitting $68.68. 2,340,912 shares of the company's stock were exchanged, compared to its average volume of 2,496,128. The stock's 50 day moving average price is $73.87 and its 200-day moving average price is $72.01. The firm has a market cap of $18.41 billion, a P/E ratio of 143.24, a PEG ratio of 4.89 and a beta of 0.71. Nutanix has a twelve month low of $51.11 and a twelve month high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its 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. The firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, analysts expect that Nutanix will post 0.31 EPS for the current fiscal 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.