Tidal Investments LLC Buys 87,426 Shares of Nutanix $NTNX

Key Points

• Tidal Investments more than doubled its Nutanix stake in the second quarter, purchasing 87,426 additional shares for a total of 166,037 shares valued at approximately $8.46 million.
• Institutional ownership remains high at 85.25%, with several other funds—including Bank of Nova Scotia, Daiwa Securities and NewEdge Advisors—also increasing their positions.
• Nutanix beat quarterly expectations, reporting $0.60 in adjusted EPS and $757.08 million in revenue, while analysts maintain a “Moderate Buy” consensus with an average price target of $72.71.

Tidal Investments LLC raised its stake in Nutanix (NASDAQ:NTNX - Free Report) by 111.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,037 shares of the technology company's stock after buying an additional 87,426 shares during the period. Tidal Investments LLC owned about 0.06% of Nutanix worth $8,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. CW Advisors LLC bought a new stake in shares of Nutanix during the second quarter valued at approximately $273,000. Cerity Partners LLC grew its stake in Nutanix by 15.2% in the second quarter. Cerity Partners LLC now owns 83,073 shares of the technology company's stock worth $6,350,000 after purchasing an additional 10,967 shares in the last quarter. Bank of Nova Scotia grew its stake in Nutanix by 296.5% in the second quarter. Bank of Nova Scotia now owns 41,616 shares of the technology company's stock worth $3,181,000 after purchasing an additional 31,119 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Nutanix by 94.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 48,263 shares of the technology company's stock worth $3,690,000 after purchasing an additional 23,479 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Nutanix by 164.4% during the 2nd quarter. NewEdge Advisors LLC now owns 8,622 shares of the technology company's stock worth $659,000 after purchasing an additional 5,361 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTNX has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their target price on Nutanix from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Barclays increased their price target on Nutanix from $53.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, August 28th. UBS Group set a $85.00 price target on Nutanix in a research note on Thursday, August 27th. Bank of America restated a "buy" rating on shares of Nutanix in a report on Thursday, August 27th. Finally, Wall Street Zen raised shares of Nutanix from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $72.71.

Nutanix Stock Performance

Shares of NTNX stock opened at $65.92 on Friday. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 3.74 and a beta of 0.62. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.92. The company's 50 day moving average is $61.71 and its 200 day moving average is $50.03.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.11. The company had revenue of $757.08 million during the quarter, compared to analyst estimates of $738.27 million. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.Nutanix's revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, sell-side analysts anticipate that Nutanix will post 1.02 EPS for the current fiscal year.

Nutanix Company Profile

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company's offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.

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