Summit Global Investments Takes $727,000 Position in Nutanix, Inc. (NASDAQ:NTNX)

Summit Global Investments bought a new position in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 12,273 shares of the technology company's stock, valued at approximately $727,000.

A number of other institutional investors have also made changes to their positions in NTNX. Vanguard Group Inc. raised its holdings in Nutanix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company's stock valued at $1,548,378,000 after acquiring an additional 346,414 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company's stock valued at $269,024,000 after purchasing an additional 985,421 shares during the period. Jericho Capital Asset Management L.P. boosted its stake in Nutanix by 13.1% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,988,923 shares of the technology company's stock valued at $246,196,000 after purchasing an additional 462,000 shares during the period. Renaissance Technologies LLC grew its holdings in Nutanix by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company's stock valued at $212,548,000 after buying an additional 256,156 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Nutanix by 47.5% during the 2nd quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company's stock worth $84,308,000 after buying an additional 477,838 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTNX. Barclays boosted their target price on shares of Nutanix from $71.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Morgan Stanley raised shares of Nutanix from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $71.00 to $72.00 in a report on Monday, October 28th. Piper Sandler raised their target price on shares of Nutanix from $76.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Northland Securities boosted their price target on Nutanix from $71.00 to $74.00 and gave the company a "market perform" rating in a research note on Friday, August 30th. Finally, Bank of America raised their price target on Nutanix from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Nutanix presently has an average rating of "Moderate Buy" and a consensus price target of $73.38.

Insider Transactions at Nutanix

In related news, COO David Sangster sold 11,950 shares of the firm's stock in a transaction that occurred on 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 owns 123,868 shares of the company's stock, valued at $7,411,022.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, COO David Sangster sold 11,950 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

Nutanix Price Performance

Shares of Nutanix stock traded down $0.15 during midday trading on Friday, reaching $70.30. The company had a trading volume of 2,214,213 shares, compared to its average volume of 1,430,564. The firm has a market cap of $18.64 billion, a PE ratio of -135.19, a P/E/G ratio of 13.54 and a beta of 1.17. The stock has a fifty day moving average price of $61.98 and a 200 day moving average price of $58.74. Nutanix, Inc. has a fifty-two week low of $37.28 and a fifty-two week high of $73.69.

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