Vanguard Group Inc. Purchases 832,468 Shares of Nutanix $NTNX

Key Points

• Vanguard Group increased its stake in Nutanix by 832,468 shares in Q4 to 27,514,943 shares, owning about 10.18% of the company worth roughly $1.42 billion.
• Nutanix topped Q4 expectations with EPS of $0.56 versus $0.44 estimated and revenue of $722.8 million (up 10.4% YoY), though return on equity remained negative.
• Wall Street has a Moderate Buy consensus on NTNX with an average price target of $60.87, even as several firms trimmed their targets this year.

Vanguard Group Inc. lifted its position in shares of Nutanix (NASDAQ:NTNX - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,514,943 shares of the technology company's stock after acquiring an additional 832,468 shares during the quarter. Vanguard Group Inc. owned approximately 10.18% of Nutanix worth $1,422,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in Nutanix by 37.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 6,763 shares of the technology company's stock valued at $350,000 after purchasing an additional 1,826 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Nutanix by 62.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,612 shares of the technology company's stock worth $807,000 after purchasing an additional 6,002 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Nutanix by 18.5% during the fourth quarter. Peregrine Capital Management LLC now owns 183,568 shares of the technology company's stock worth $9,489,000 after purchasing an additional 28,677 shares during the last quarter. waypoint wealth counsel increased its stake in shares of Nutanix by 123.0% in the fourth quarter. waypoint wealth counsel now owns 6,714 shares of the technology company's stock valued at $347,000 after buying an additional 3,703 shares during the period. Finally, HB Wealth Management LLC increased its stake in shares of Nutanix by 54.8% in the fourth quarter. HB Wealth Management LLC now owns 4,566 shares of the technology company's stock valued at $236,000 after buying an additional 1,616 shares during the period. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Performance

NASDAQ:NTNX opened at $40.89 on Friday. The company has a market capitalization of $10.84 billion, a PE ratio of 44.45, a P/E/G ratio of 4.69 and a beta of 0.52. The company has a 50 day simple moving average of $39.48 and a two-hundred day simple moving average of $48.67. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The firm had revenue of $722.83 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the previous year, the company earned $0.47 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts predict that Nutanix will post 0.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on NTNX. Wells Fargo & Company cut their target price on shares of Nutanix from $57.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 26th. The Goldman Sachs Group dropped their price target on shares of Nutanix from $75.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, February 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $55.00 price target on shares of Nutanix in a report on Wednesday, April 8th. Barclays reduced their price objective on shares of Nutanix from $53.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 26th. Finally, Bank of America decreased their price objective on Nutanix from $75.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.87.

About Nutanix

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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