Principal Financial Group Inc. Acquires 23,131 Shares of Nutanix $NTNX

Key Points

• Principal Financial Group increased its Nutanix stake by 4.0% in the first quarter, buying 23,131 additional shares and bringing its total holding to 604,657 shares worth about $22.98 million.
• Nutanix stock was down 1.7% to $54.19, though the company remains well above its 12-month low of $34.01 and below its high of $82.42.
• The company recently beat earnings expectations, reporting EPS of $0.47 on revenue of $703.07 million, while Wall Street analysts currently hold a Moderate Buy consensus with an average price target of $60.

Principal Financial Group Inc. boosted its stake in Nutanix (NASDAQ:NTNX - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 604,657 shares of the technology company's stock after purchasing an additional 23,131 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Nutanix worth $22,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in Nutanix in the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Nutanix during the fourth quarter worth approximately $39,000. Covestor Ltd raised its position in shares of Nutanix by 73.1% during the fourth quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock worth $42,000 after purchasing an additional 502 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company's stock worth $51,000 after purchasing an additional 432 shares in the last quarter. 85.25% of the stock is owned by institutional investors.

Nutanix Stock Down 1.7%

NTNX stock opened at $54.19 on Wednesday. The firm has a market capitalization of $14.65 billion, a PE ratio of 57.04, a P/E/G ratio of 4.86 and a beta of 0.61. Nutanix has a twelve month low of $34.01 and a twelve month high of $82.42. The stock's 50 day moving average is $50.44 and its 200-day moving average is $44.86.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.12. The business had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.Nutanix's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, equities research analysts anticipate that Nutanix will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTNX shares. Rosenblatt Securities restated a "buy" rating and set a $60.00 price target on shares of Nutanix in a research note on Friday, May 29th. Royal Bank Of Canada raised their price objective on shares of Nutanix from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nutanix in a research note on Wednesday, June 24th. Northland Securities set a $47.00 price objective on shares of Nutanix in a report on Thursday, May 28th. Finally, Bank of America boosted their target price on shares of Nutanix from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Nutanix Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company's product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.

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