CIBC Asset Management Inc Increases Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

CIBC Asset Management Inc lifted its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,036 shares of the technology company’s stock after acquiring an additional 233 shares during the quarter. CIBC Asset Management Inc’s holdings in Nutanix were worth $417,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after acquiring an additional 243 shares during the last quarter. Paragon Capital Management Inc. raised its position in Nutanix by 1.0% in the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock worth $1,545,000 after purchasing an additional 258 shares during the period. Signaturefd LLC lifted its stake in Nutanix by 57.8% in the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after purchasing an additional 350 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Nutanix by 9.0% during the second 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. Finally, 180 Wealth Advisors LLC grew its stake in shares of Nutanix by 3.6% during the second quarter. 180 Wealth Advisors LLC now owns 10,854 shares of the technology company’s stock valued at $615,000 after buying an additional 374 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Trading Up 2.2 %

NASDAQ:NTNX opened at $70.95 on Friday. Nutanix, Inc. has a twelve month low of $40.20 and a twelve month high of $73.69. The company has a market capitalization of $18.82 billion, a P/E ratio of -136.44, a price-to-earnings-growth ratio of 13.01 and a beta of 1.17. The firm has a 50-day moving average price of $63.62 and a two-hundred day moving average price of $59.31.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. On average, equities research analysts predict that Nutanix, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 transaction of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. The trade was a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at $11,309,145.65. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTNX. Oppenheimer began coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. upped their price target on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $80.00 target price on shares of Nutanix in a report on Thursday, August 29th. Royal Bank of Canada lifted their price target on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Bank of America upped their price objective on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.86.

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.