Pacer Advisors Inc. Has $15.99 Million Stock Position in Nutanix (NASDAQ:NTNX)

Key Points

• Pacer Advisors Inc. increased its stake in Nutanix (NASDAQ:NTNX) by 208.7%, owning a total of 229,038 shares valued at approximately $15.99 million.
• Insiders sold a total of 5,552,549 shares of Nutanix stock worth about $426.62 million over the last 90 days, while still holding 6.80% of the company's stock.
• Analysts have a consensus rating of "Moderate Buy" for Nutanix, with an average price target of $91.00, following upgrades from several firms including Goldman Sachs.

Pacer Advisors Inc. raised its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 208.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 229,038 shares of the technology company's stock after acquiring an additional 154,835 shares during the period. Pacer Advisors Inc. owned approximately 0.09% of Nutanix worth $15,989,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC purchased a new stake in Nutanix during the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB grew its position in Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after acquiring an additional 191 shares during the period. GW&K Investment Management LLC purchased a new position in Nutanix in the first quarter valued at about $30,000. Fifth Third Bancorp increased its position in Nutanix by 98.4% in the 1st quarter. Fifth Third Bancorp now owns 504 shares of the technology company's stock valued at $35,000 after acquiring an additional 250 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in Nutanix in the 4th quarter valued at approximately $70,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Insider Buying and Selling at Nutanix

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the 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 directly owned 209,070 shares in the company, valued at $15,205,661.10. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Virginia Gambale sold 7,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the transaction, the director owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTNX shares. Needham & Company LLC reiterated a "buy" rating and set a $92.00 price objective on shares of Nutanix in a report on Thursday, May 29th. 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. Piper Sandler reaffirmed an "overweight" rating and set a $88.00 price objective (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. The Goldman Sachs Group assumed coverage on Nutanix in a report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price objective on the stock. Finally, Wall Street Zen downgraded 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, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Nutanix Price Performance

NTNX stock traded up $1.14 during trading hours on Wednesday, reaching $76.69. 455,647 shares of the stock were exchanged, compared to its average volume of 2,497,908. The firm's 50-day moving average is $75.45 and its 200-day moving average is $71.43. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 151.59, a PEG ratio of 6.86 and a beta of 0.67. Nutanix has a 12 month low of $43.35 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 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same period in the prior year, the business posted $0.28 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast 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.