Sumitomo Mitsui Trust Group Inc. Raises Position in Nutanix, Inc. (NASDAQ:NTNX)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 75.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,600 shares of the technology company’s stock after purchasing an additional 3,700 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Nutanix were worth $510,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of NTNX. GAMMA Investing LLC raised 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 buying an additional 243 shares in the last quarter. Paragon Capital Management Inc. increased its position in shares of Nutanix by 1.0% during 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% during the third 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. Daiwa Securities Group Inc. lifted its holdings in Nutanix by 9.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company’s stock valued at $256,000 after purchasing an additional 370 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in shares of Nutanix by 3.6% in 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 in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Price Performance

NASDAQ NTNX opened at $68.44 on Wednesday. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of -131.83, a PEG ratio of 13.22 and a beta of 1.17. The company has a fifty day moving average price of $63.06 and a 200-day moving average price of $59.12. Nutanix, Inc. has a 1 year low of $39.15 and a 1 year high of $73.69.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating 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 analysts’ expectations of $537.12 million. On average, research analysts anticipate that Nutanix, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on NTNX. Morgan Stanley upgraded shares of Nutanix from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $71.00 to $72.00 in a research report on Monday, October 28th. Bank of America boosted their price objective on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Northland Securities upped their target price on Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Piper Sandler raised their price target on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Raymond James raised their price objective on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.86.

Insider Transactions at Nutanix

In other news, COO David Sangster sold 11,950 shares of the 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 owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

About Nutanix

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.