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

Summit Global Investments acquired a new position in Nutanix, Inc. (NASDAQ:NTNX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,273 shares of the technology company’s stock, valued at approximately $727,000.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in Nutanix by 8.9% during the 3rd quarter. QRG Capital Management Inc. now owns 10,482 shares of the technology company’s stock worth $621,000 after buying an additional 859 shares during the period. Arcadia Investment Management Corp MI raised its position in shares of Nutanix by 16.1% during the third quarter. Arcadia Investment Management Corp MI now owns 3,600 shares of the technology company’s stock worth $213,000 after acquiring an additional 500 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Nutanix by 76.9% in the third quarter. Stephens Investment Management Group LLC now owns 162,284 shares of the technology company’s stock worth $9,615,000 after acquiring an additional 70,523 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Nutanix by 10.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,246 shares of the technology company’s stock valued at $252,000 after acquiring an additional 385 shares during the last quarter. Finally, Smith Group Asset Management LLC boosted its holdings in Nutanix by 21.4% in the third quarter. Smith Group Asset Management LLC now owns 27,209 shares of the technology company’s stock valued at $1,612,000 after acquiring an additional 4,790 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

Insider Activity at Nutanix

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $80.00 price target on shares of Nutanix in a research report on Thursday, August 29th. Northland Securities upped their price target on shares of Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Raymond James increased their price target on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler boosted their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley raised Nutanix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $72.00 in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.38.

Nutanix Trading Down 0.2 %

Shares of NTNX stock opened at $70.30 on Friday. The firm has a fifty day simple moving average of $61.98 and a two-hundred day simple moving average of $58.75. Nutanix, Inc. has a 12 month low of $37.28 and a 12 month high of $73.69. The firm has a market capitalization of $18.64 billion, a PE ratio of -135.19, a price-to-earnings-growth ratio of 13.54 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The company had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. On average, equities analysts predict that Nutanix, Inc. will post 0.27 earnings per share for the current fiscal year.

Nutanix Company 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.