Oak Associates Ltd. OH Purchases New Position in Nutanix $NTNX

Oak Associates Ltd. OH acquired a new position in Nutanix (NASDAQ:NTNX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,162 shares of the technology company’s stock, valued at approximately $842,000.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Nutanix in the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Nutanix during the 4th quarter valued at $39,000. Covestor Ltd lifted its stake in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in shares of Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after purchasing an additional 432 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Stock Down 1.4%

NTNX opened at $52.63 on Friday. The stock’s 50 day moving average price is $50.76 and its two-hundred day moving average price is $44.89. The firm has a market capitalization of $14.23 billion, a P/E ratio of 55.40, a price-to-earnings-growth ratio of 4.70 and a beta of 0.61. Nutanix has a 12-month low of $34.01 and a 12-month high of $82.42.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The company had revenue of $703.07 million during the quarter, compared to analyst estimates of $686.34 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts anticipate that Nutanix will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Needham & Company LLC upped their price target on Nutanix from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company increased their price objective on Nutanix from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. UBS Group increased their price objective on Nutanix from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised their price objective on Nutanix from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nutanix presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix 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.