PAX Financial Group LLC Acquires New Shares in Nutanix (NASDAQ:NTNX)

PAX Financial Group LLC bought a new position in Nutanix (NASDAQ:NTNX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,616 shares of the technology company's stock, valued at approximately $1,020,000.

A number of other hedge funds have also added to or reduced their stakes in NTNX. Proficio Capital Partners LLC bought a new stake in Nutanix in the fourth quarter worth approximately $6,052,000. HighTower Advisors LLC bought a new stake in shares of Nutanix during the fourth quarter valued at approximately $234,000. EverSource Wealth Advisors LLC increased its holdings in shares of Nutanix by 408.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,226 shares of the technology company's stock valued at $75,000 after acquiring an additional 985 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Nutanix by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after acquiring an additional 188 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Nutanix by 47.8% during the fourth quarter. Swiss National Bank now owns 711,500 shares of the technology company's stock valued at $43,530,000 after acquiring an additional 230,200 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTNX has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Nutanix in a report on Tuesday. They set a "buy" rating and a $95.00 price objective for the company. Morgan Stanley restated an "overweight" rating and set a $90.00 price objective (up previously from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Piper Sandler restated an "overweight" rating and set a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and set a $92.00 price objective on shares of Nutanix in a report on Thursday, May 29th. Finally, KeyCorp initiated coverage on Nutanix in a report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Nutanix Stock Down 0.9%

NTNX stock traded down $0.70 during midday trading on Wednesday, hitting $73.55. The company's stock had a trading volume of 1,574,221 shares, compared to its average volume of 2,478,322. The stock's 50-day moving average price is $76.37 and its 200 day moving average price is $70.58. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 151.53, a PEG ratio of 6.86 and a beta of 0.67.

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 for the quarter, topping the consensus estimate of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The business 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 earned $0.28 earnings per share. The business's revenue was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 7,000 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the sale, the director directly owned 38,330 shares in the company, valued at $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $152,733.00. Following the completion of the sale, the chief financial officer owned 209,070 shares in the company, 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 sold a total of 5,552,549 shares of company stock worth $426,621,281 in the last ninety days. Company 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.