Principal Financial Group Inc. Has $44.22 Million Position in Nutanix $NTNX

Principal Financial Group Inc. increased its holdings in shares of Nutanix (NASDAQ:NTNX) by 5,204.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 594,476 shares of the technology company’s stock after purchasing an additional 583,269 shares during the period. Principal Financial Group Inc. owned approximately 0.22% of Nutanix worth $44,223,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in Nutanix by 16,650.0% in the 3rd quarter. UMB Bank n.a. now owns 2,345 shares of the technology company’s stock worth $174,000 after buying an additional 2,331 shares during the period. Transcend Capital Advisors LLC bought a new stake in shares of Nutanix in the third quarter valued at approximately $304,000. Thrivent Financial for Lutherans grew its stake in shares of Nutanix by 674.7% in the third quarter. Thrivent Financial for Lutherans now owns 61,590 shares of the technology company’s stock worth $4,582,000 after acquiring an additional 53,640 shares during the last quarter. National Pension Service bought a new position in Nutanix during the third quarter worth $786,000. Finally, AustralianSuper Pty Ltd increased its position in Nutanix by 66.3% during the third quarter. AustralianSuper Pty Ltd now owns 433,807 shares of the technology company’s stock worth $32,271,000 after acquiring an additional 173,025 shares during the period. Institutional investors own 85.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NTNX shares. KeyCorp decreased their price target on shares of Nutanix from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Oppenheimer assumed coverage on Nutanix in a research report on Monday, November 17th. They set an “outperform” rating and a $90.00 target price on the stock. Barclays restated an “equal weight” rating and set a $53.00 price target (down from $64.00) on shares of Nutanix in a research note on Thursday, January 15th. Piper Sandler reiterated an “overweight” rating and issued a $72.00 price objective (down previously from $88.00) on shares of Nutanix in a research report on Wednesday, November 26th. Finally, Bank of America lowered their price objective on Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $39.15 on Thursday. Nutanix has a 52-week low of $35.39 and a 52-week high of $83.36. The business has a fifty day moving average of $47.80 and a two-hundred day moving average of $62.62. The stock has a market cap of $10.59 billion, a PE ratio of 52.20, a PEG ratio of 3.93 and a beta of 0.48.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. Analysts predict that Nutanix will post 0.31 earnings per share for the current year.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.