Nutanix, Inc. (NASDAQ:NTNX) Position Raised by Inspire Advisors LLC

Inspire Advisors LLC raised its stake in Nutanix, Inc. (NASDAQ:NTNX) by 9.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 47,491 shares of the technology company’s stock after buying an additional 4,260 shares during the quarter. Inspire Advisors LLC’s holdings in Nutanix were worth $2,814,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NTNX. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Nutanix during the first quarter valued at $1,384,000. Cetera Investment Advisers increased its holdings in shares of Nutanix by 48.7% during the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 24,918 shares during the period. Diversified Trust Co increased its holdings in shares of Nutanix by 46.7% during the second quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock valued at $2,084,000 after purchasing an additional 11,668 shares during the period. Vanguard Group Inc. increased its holdings in shares of Nutanix by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock valued at $1,548,378,000 after purchasing an additional 346,414 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Nutanix by 387.1% during the first quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock valued at $162,229,000 after purchasing an additional 2,076,377 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler raised their price target on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Bank of America lifted their target price on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Raymond James lifted their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Barclays lifted their target price on Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Nutanix in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.31.

Nutanix Stock Performance

NTNX traded down $0.39 during trading on Friday, reaching $63.97. The company had a trading volume of 178,026 shares, compared to its average volume of 2,566,665. The firm’s 50-day simple moving average is $58.59 and its 200 day simple moving average is $58.60. The company has a market cap of $15.78 billion, a price-to-earnings ratio of -919.43, a PEG ratio of 12.80 and a beta of 1.18. Nutanix, Inc. has a 12-month low of $34.40 and a 12-month high of $73.69.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The firm had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. On average, sell-side analysts expect that Nutanix, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares in the company, valued at $11,309,145.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Nutanix Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.