Swiss National Bank Cuts Stake in Nutanix $NTNX

Key Points

• Swiss National Bank reduced its Nutanix stake by 27.4% in the first quarter, selling 191,600 shares and leaving it with 508,400 shares worth about $19.3 million.
• Nutanix beat earnings expectations in its latest quarter, posting EPS of $0.47 versus $0.35 expected and revenue of $703.07 million, up 10% year over year.
• Analyst sentiment remains positive, with multiple firms reiterating buy ratings and the stock carrying a consensus “Moderate Buy” rating and average target price of $60.00.

Swiss National Bank lowered its stake in shares of Nutanix (NASDAQ:NTNX - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 508,400 shares of the technology company's stock after selling 191,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Nutanix worth $19,324,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Nutanix by 72.8% in the fourth quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company's stock valued at $591,991,000 after acquiring an additional 4,826,443 shares during the last quarter. Norges Bank purchased a new stake in shares of Nutanix during the 4th quarter worth approximately $187,169,000. FIL Ltd raised its holdings in shares of Nutanix by 180.1% in the 4th quarter. FIL Ltd now owns 4,333,937 shares of the technology company's stock worth $224,021,000 after purchasing an additional 2,786,929 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Nutanix by 926.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,687,387 shares of the technology company's stock worth $138,911,000 after purchasing an additional 2,425,665 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Nutanix by 592.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,601,351 shares of the technology company's stock worth $82,774,000 after purchasing an additional 1,370,047 shares during the period. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Trading Up 4.6%

NTNX opened at $55.04 on Friday. The company has a 50 day moving average of $50.94 and a 200 day moving average of $44.96. The company has a market cap of $14.88 billion, a PE ratio of 57.94, a price-to-earnings-growth ratio of 4.64 and a beta of 0.61. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.12. The business had revenue of $703.07 million for the quarter, compared to analysts' expectations of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS. Research analysts forecast that Nutanix will post 0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

NTNX has been the subject of several research reports. KeyCorp reissued an "overweight" rating on shares of Nutanix in a report on Thursday, May 28th. Bank of America boosted their target price on Nutanix from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nutanix in a research report on Thursday, May 28th. Rosenblatt Securities reiterated a "buy" rating and set a $60.00 price target on shares of Nutanix in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Nutanix from $44.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Nutanix Company 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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