Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Nutanix (NASDAQ:NTNX)

Wealth Enhancement Advisory Services LLC grew its holdings in Nutanix (NASDAQ:NTNX - Free Report) by 49.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,515 shares of the technology company's stock after purchasing an additional 16,447 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Nutanix were worth $3,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Nutanix during the fourth quarter worth $195,758,000. Pictet Asset Management Holding SA grew its holdings in Nutanix by 6,785.3% during 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 stake in Nutanix during the 4th quarter valued at $91,639,000. Contour Asset Management LLC acquired a new stake in Nutanix during the fourth quarter worth approximately $87,318,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Nutanix during the fourth quarter worth $86,824,000. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NTNX shares. Susquehanna raised their target price on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Thursday, May 29th. Raymond James Financial cut shares of Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Oppenheimer boosted their price objective on shares of Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Finally, Northland Securities raised shares of Nutanix from a "market perform" rating to an "outperform" rating and increased their target price for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Nutanix currently has a consensus rating of "Buy" and an average target price of $90.71.

Insider Activity

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of Nutanix stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $75.00, for a total value of $144,375.00. Following the sale, the chief executive officer now owns 518,561 shares of the company's stock, valued at $38,892,075. The trade was a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the transaction, the director now directly owns 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,552,549 shares of company stock worth $426,621,281 in the last three months. Company insiders own 6.80% of the company's stock.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded up $0.01 during trading on Friday, reaching $75.29. 2,936,156 shares of the stock traded hands, compared to its average volume of 2,539,367. Nutanix has a 52-week low of $43.35 and a 52-week high of $83.36. The stock has a market cap of $20.18 billion, a P/E ratio of -268.89, a price-to-earnings-growth ratio of 6.67 and a beta of 0.69. The stock has a 50-day moving average of $74.19 and a two-hundred day moving average of $69.59.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The business had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same period in the previous year, the company posted $0.28 EPS. The business's quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts expect that Nutanix will post 0.31 earnings per share for the current year.

About Nutanix

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.