Sumitomo Mitsui Trust Group Inc. Buys 9,693 Shares of Nutanix (NASDAQ:NTNX)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Nutanix (NASDAQ:NTNX - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 489,010 shares of the technology company's stock after acquiring an additional 9,693 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Nutanix worth $34,138,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. 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 during the last quarter. Renaissance Technologies LLC boosted its stake in Nutanix by 6.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after buying an additional 268,400 shares during the period. Geode Capital Management LLC increased its position in shares of Nutanix by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after purchasing an additional 163,874 shares during the last quarter. First Trust Advisors LP raised its position in shares of Nutanix by 9.3% during the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock valued at $214,055,000 after buying an additional 297,754 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Nutanix in the 4th quarter worth about $195,758,000. Institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Shares of NTNX traded up $1.38 during trading hours on Friday, hitting $76.81. The stock had a trading volume of 1,289,764 shares, compared to its average volume of 2,534,094. The firm has a market capitalization of $20.59 billion, a PE ratio of 156.73, a PEG ratio of 7.09 and a beta of 0.67. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36. The stock has a fifty day moving average price of $75.79 and a 200 day moving average price of $70.05.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $638.98 million during 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 business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

NTNX has been the subject of several research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. KeyCorp initiated coverage on shares of Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price objective on the stock. Piper Sandler reissued an "overweight" rating and issued a $88.00 target price (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Wall Street Zen cut Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Finally, Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.71.

Insider Buying and Selling

In related news, CEO Rajiv Ramaswami sold 1,925 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total value of $144,375.00. Following the sale, the chief executive officer owned 518,561 shares in the company, valued at approximately $38,892,075. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the company'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 sale, the director directly owned 38,330 shares in the company, valued at approximately $2,989,740. The trade was a 15.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,552,549 shares of company stock worth $426,621,281. 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.