Ontario Teachers Pension Plan Board Buys Shares of 20,601 Nutanix (NASDAQ:NTNX)

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 purchased a new position in shares of Nutanix (NASDAQ:NTNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,601 shares of the technology company's stock, valued at approximately $1,438,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP raised its position in Nutanix by 9.3% during the fourth quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock worth $214,055,000 after acquiring an additional 297,754 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Nutanix by 9.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,086,513 shares of the technology company's stock worth $188,833,000 after purchasing an additional 269,866 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Nutanix by 21.2% during the 1st quarter. Federated Hermes Inc. now owns 2,423,978 shares of the technology company's stock worth $169,218,000 after purchasing an additional 423,249 shares during the last quarter. AQR Capital Management LLC lifted its stake in Nutanix by 16.8% in the 4th quarter. AQR Capital Management LLC now owns 2,177,956 shares of the technology company's stock valued at $133,247,000 after buying an additional 314,060 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Nutanix by 7.5% in the 4th quarter. Northern Trust Corp now owns 1,487,565 shares of the technology company's stock valued at $91,009,000 after buying an additional 103,655 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Ratings Changes

NTNX has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $92.00 price target on shares of Nutanix in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. The Goldman Sachs Group began coverage on shares of Nutanix in a report on Tuesday, July 15th. They issued a "buy" rating and a $95.00 target price on the stock. KeyCorp began coverage on shares of Nutanix in a report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price target for the company. Finally, Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Nutanix Trading Down 4.1%

Shares of Nutanix stock opened at $72.58 on Friday. Nutanix has a twelve month low of $47.30 and a twelve month high of $83.36. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of 154.49, a price-to-earnings-growth ratio of 5.28 and a beta of 0.71. The company has a fifty day moving average price of $74.78 and a 200 day moving average price of $71.84.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 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 company had revenue of $638.98 million for the quarter, compared to analysts' expectations of $626.12 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm's quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that Nutanix will post 0.31 earnings per share for the current year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the business's stock in a transaction 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 transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 1,925 shares of Nutanix stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total transaction of $144,375.00. Following the sale, the chief executive officer directly owned 518,561 shares in the company, valued at $38,892,075. This trade represents a 0.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,552,549 shares of company stock worth $426,621,281 over the last three months. Insiders own 6.80% of the company's stock.

Nutanix 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.

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