Pier 88 Investment Partners LLC Has $1.59 Million Holdings in Nutanix (NASDAQ:NTNX)

Pier 88 Investment Partners LLC lifted its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 193.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,750 shares of the technology company's stock after acquiring an additional 15,000 shares during the period. Pier 88 Investment Partners LLC's holdings in Nutanix were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. GW&K Investment Management LLC purchased a new stake in shares of Nutanix in the 1st quarter valued at $30,000. Harbour Investments Inc. increased its stake in Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock valued at $27,000 after purchasing an additional 418 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Nutanix by 78.0% in 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 period. Colonial Trust Co SC purchased a new position in Nutanix during the fourth quarter valued at approximately $28,000. Finally, Fifth Third Bancorp increased its position in Nutanix by 98.4% during the first 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 last quarter. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Up 0.2%

NTNX traded up $0.13 during mid-day trading on Tuesday, reaching $75.28. 241,848 shares of the company traded hands, compared to its average volume of 2,450,640. The stock has a market capitalization of $20.18 billion, a P/E ratio of 152.74, a P/E/G ratio of 6.98 and a beta of 0.67. The company's fifty day moving average price is $76.39 and its 200-day moving average price is $70.90. Nutanix has a 52-week low of $43.35 and a 52-week 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 for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NTNX shares. Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. KeyCorp began coverage on shares of Nutanix in a research note on Thursday, June 26th. They set an "overweight" rating and a $95.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 price target on shares of Nutanix in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Two investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.00.

Insider Activity at Nutanix

In related news, Director Virginia Gambale sold 7,000 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of the transaction, the director owned 38,330 shares of the company's stock, valued at $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the transaction, the chief executive officer directly owned 518,561 shares of the company's stock, valued at $38,892,075. The trade was a 0.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. 6.80% of the stock is currently owned by corporate insiders.

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.

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