20,601 Shares in Nutanix (NASDAQ:NTNX) Purchased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board acquired 20,601 shares of Nutanix, valued at approximately $1,438,000, indicating institutional interest in the technology firm.
• Analyst ratings for Nutanix include a buy rating from Needham & Company with a target price of $92.00, reflecting positive market sentiment towards the stock.
• Nutanix's recent performance shows quarterly revenue growth of 21.8% year-over-year, with reported earnings per share of $0.42, exceeding analysts' expectations.

Ontario Teachers Pension Plan Board acquired a new stake in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,601 shares of the technology company's stock, valued at approximately $1,438,000.

Several other institutional investors and hedge funds have also bought and sold shares of NTNX. Chicago Partners Investment Group LLC raised its position in shares of Nutanix by 14.1% in the first quarter. Chicago Partners Investment Group LLC now owns 5,358 shares of the technology company's stock valued at $395,000 after purchasing an additional 661 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Nutanix by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,467,177 shares of the technology company's stock valued at $102,424,000 after purchasing an additional 24,372 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Nutanix in the first quarter valued at approximately $345,000. iA Global Asset Management Inc. raised its position in shares of Nutanix by 1,601.7% in the first quarter. iA Global Asset Management Inc. now owns 115,560 shares of the technology company's stock valued at $8,067,000 after purchasing an additional 108,769 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Nutanix in the first quarter valued at approximately $74,000. 85.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NTNX has been the topic of several research reports. 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. Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group initiated coverage on shares of Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 price target on the stock. Susquehanna increased their price target on shares of Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.00.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 1,925 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $75.00, for a total value of $144,375.00. Following the completion of the transaction, the chief executive officer directly owned 518,561 shares in the company, valued at approximately $38,892,075. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 2,100 shares of the company'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 sale, the chief financial officer owned 209,070 shares of the company's stock, valued at approximately $15,205,661.10. The trade was 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 quarter. 6.80% of the stock is owned by company insiders.

Nutanix Trading Up 0.1%

Shares of NTNX traded up $0.08 during trading hours on Tuesday, reaching $68.88. 1,141,176 shares of the company's stock traded hands, compared to its average volume of 2,489,647. The stock has a market cap of $18.47 billion, a PE ratio of 146.12, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. The firm's 50 day simple moving average is $74.54 and its 200-day simple moving average is $71.99. Nutanix has a 12 month low of $49.99 and a 12 month 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 analysts' consensus estimates of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The firm had revenue of $638.98 million during the quarter, compared to analysts' expectations of $626.12 million. During the same period in the prior year, the business earned $0.28 EPS. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

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.