Pier 88 Investment Partners LLC Acquires 15,000 Shares of Nutanix (NASDAQ:NTNX)

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

Several other hedge funds have also modified their holdings of NTNX. Harbour Investments Inc. lifted its holdings in shares of Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock valued at $27,000 after purchasing an additional 418 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Nutanix during the fourth quarter valued at $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 191 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Nutanix during the first quarter valued at $30,000. Finally, Fifth Third Bancorp lifted its holdings in shares of 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 purchasing an additional 250 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 target price on shares of Nutanix in a report on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $90.00 price target (up from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. KeyCorp began coverage on Nutanix in a research report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price target on the stock. Raymond James Financial lowered Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Finally, Susquehanna upped their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.00.

Insider Buying and Selling

In other news, Director Groen Max Pieter De sold 5,480,467 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the sale, the director owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the company's stock in a transaction dated 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 owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This trade represents a 15.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,552,549 shares of company stock worth $426,621,281. Insiders own 6.80% of the company's stock.

Nutanix Trading Up 1.1%

NTNX stock traded up $0.81 during mid-day trading on Friday, hitting $74.81. The stock had a trading volume of 633,292 shares, compared to its average volume of 2,509,890. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.36. The company has a fifty day moving average of $75.91 and a 200 day moving average of $71.10. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of 151.78, a PEG ratio of 6.87 and a beta of 0.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The firm's revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal 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.