Summit Trail Advisors LLC Acquires Shares of 19,955 Nutanix (NASDAQ:NTNX)

Summit Trail Advisors LLC acquired a new position in Nutanix (NASDAQ:NTNX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,955 shares of the technology company's stock, valued at approximately $1,393,000.

Several other large investors have also modified their holdings of NTNX. Norges Bank acquired a new position in Nutanix during the 4th quarter worth $195,758,000. Pictet Asset Management Holding SA increased its stake in shares of Nutanix by 6,785.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock worth $130,885,000 after purchasing an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Nutanix during the 4th quarter worth about $91,639,000. Contour Asset Management LLC acquired a new position in shares of Nutanix during the 4th quarter worth about $87,318,000. Finally, Raymond James Financial Inc. bought a new stake in Nutanix during the 4th quarter valued at approximately $86,824,000. 85.25% of the stock is owned by institutional investors.

Nutanix Price Performance

Shares of NTNX stock traded up $0.24 during trading hours on Wednesday, hitting $75.43. 2,088,994 shares of the company's stock were exchanged, compared to its average volume of 2,529,987. Nutanix has a 52 week low of $43.35 and a 52 week high of $83.36. The stock has a market cap of $20.22 billion, a price-to-earnings ratio of 153.45, a price-to-earnings-growth ratio of 6.78 and a beta of 0.67. The stock's 50-day moving average is $75.13 and its 200-day moving average is $69.81.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The firm 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 company's revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities research analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Nutanix

In other news, CEO Rajiv Ramaswami sold 61,057 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the transaction, the chief executive officer owned 497,309 shares of the company's stock, valued at $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 2,100 shares of Nutanix stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the sale, the chief financial officer owned 209,070 shares of the company's stock, valued at approximately $15,205,661.10. The trade was a 0.99% 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. Company insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp initiated coverage on Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 price target on the stock. Raymond James Financial cut Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Needham & Company LLC reiterated a "buy" rating and set a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Piper Sandler restated an "overweight" rating and issued a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $90.00 price objective (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.