Sequoia Financial Advisors LLC Makes New $256,000 Investment in Nutanix (NASDAQ:NTNX)

Sequoia Financial Advisors LLC acquired a new position in Nutanix (NASDAQ:NTNX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,673 shares of the technology company's stock, valued at approximately $256,000.

Several other hedge funds have also bought and sold shares of NTNX. Vanguard Group Inc. lifted its position in shares of Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock valued at $1,568,447,000 after buying an additional 146,854 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Nutanix by 6.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock worth $270,348,000 after acquiring an additional 268,400 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nutanix by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after acquiring an additional 163,874 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Nutanix by 9.3% in the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock worth $214,055,000 after acquiring an additional 297,754 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Nutanix during the 4th quarter worth $195,758,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Shares of NTNX stock traded up $0.19 during mid-day trading on Monday, hitting $76.99. The stock had a trading volume of 1,642,879 shares, compared to its average volume of 2,530,530. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $83.36. The firm has a market cap of $20.64 billion, a PE ratio of 156.74, a PEG ratio of 7.09 and a beta of 0.67. The company's 50-day simple moving average is $75.97 and its 200-day simple moving average is $70.17.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, June 4th. The technology company reported $0.42 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 analysts' expectations of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The business's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. On average, analysts expect that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the transaction, the chief executive officer directly owned 497,309 shares in the company, valued at approximately $39,287,411. This trade represents a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Virginia Gambale sold 7,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were 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 $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,552,549 shares of company stock worth $426,621,281. 6.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NTNX. Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Raymond James Financial downgraded shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Needham & Company LLC reissued a "buy" rating and issued a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $88.00 price objective (up from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Finally, Susquehanna increased their price objective on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Nutanix currently has a consensus rating of "Moderate Buy" and an average price target of $90.71.

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.