Wealth Enhancement Advisory Services LLC Has $1.24 Million Position in Nutanix, Inc. (NASDAQ:NTNX)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 310.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,928 shares of the technology company's stock after buying an additional 15,829 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Nutanix were worth $1,240,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Nutanix by 35.2% in the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company's stock worth $53,000 after acquiring an additional 243 shares during the period. Paragon Capital Management Inc. lifted its position in Nutanix by 1.0% in the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company's stock valued at $1,545,000 after purchasing an additional 258 shares during the period. Signaturefd LLC boosted its holdings in Nutanix by 57.8% in the 3rd quarter. Signaturefd LLC now owns 956 shares of the technology company's stock valued at $57,000 after purchasing an additional 350 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Nutanix by 2.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company's stock worth $1,138,000 after purchasing an additional 369 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Nutanix by 9.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company's stock valued at $256,000 after buying an additional 370 shares during the period. Hedge funds and other institutional investors own 85.25% of the company's stock.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the company's 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 owns 192,169 shares in the company, valued at approximately $11,309,145.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business's 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 transaction, the chief financial officer now owns 192,169 shares of the company's stock, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief operating officer now directly owns 123,868 shares of the company's stock, valued at $7,411,022.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTNX. Royal Bank of Canada upped their price objective on Nutanix from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Barclays lifted their price objective on Nutanix from $71.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Raymond James boosted their price target on Nutanix from $76.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on Nutanix from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Finally, Bank of America upped their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.38.

Nutanix Stock Up 3.2 %

Shares of Nutanix stock traded up $2.00 during midday trading on Tuesday, hitting $64.51. The company's stock had a trading volume of 746,923 shares, compared to its average volume of 2,498,086. Nutanix, Inc. has a 1-year low of $37.28 and a 1-year high of $73.69. The firm has a market capitalization of $17.11 billion, a P/E ratio of -120.21, a PEG ratio of 12.68 and a beta of 1.17. The stock has a 50-day simple moving average of $61.18 and a 200-day simple moving average of $58.50.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million for the quarter, compared to analysts' expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. As a group, sell-side analysts predict that Nutanix, Inc. will post 0.27 earnings per share for the current year.

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.