Grove Bank & Trust Acquires New Position in Nutanix $NTNX

Grove Bank & Trust bought a new position in Nutanix (NASDAQ:NTNX) in the third quarter, according to its most recent filing with the SEC. The firm bought 11,756 shares of the technology company’s stock, valued at approximately $828,000.

Other large investors also recently bought and sold shares of the company. CX Institutional raised its holdings in shares of Nutanix by 134.6% in the second quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after buying an additional 280 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of Nutanix during the first quarter valued at $27,000. Parkside Financial Bank & Trust grew its holdings in shares of Nutanix by 43.8% during the second quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company’s stock valued at $29,000 after buying an additional 176 shares during the last quarter. Frazier Financial Advisors LLC increased its position in shares of Nutanix by 1,063.8% in the 1st quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock valued at $42,000 after acquiring an additional 1,000 shares during the period. Finally, CoreCap Advisors LLC increased its position in shares of Nutanix by 28.6% in the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company’s stock valued at $46,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 38,139 shares of Nutanix stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $70.00, for a total transaction of $2,669,730.00. Following the completion of the transaction, the chief financial officer directly owned 325,487 shares of the company’s stock, valued at $22,784,090. The trade was a 10.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Rajiv Ramaswami sold 324,955 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $73.57, for a total transaction of $23,906,939.35. Following the completion of the transaction, the chief executive officer owned 489,384 shares of the company’s stock, valued at approximately $36,003,980.88. This represents a 39.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 438,139 shares of company stock valued at $32,129,999 over the last three months. 2.40% of the stock is currently owned by corporate insiders.

Nutanix Stock Performance

NTNX traded down $0.31 during midday trading on Thursday, hitting $73.11. 1,717,620 shares of the company were exchanged, compared to its average volume of 3,810,279. The company’s 50 day simple moving average is $67.12 and its 200 day simple moving average is $53.97. The firm has a market capitalization of $19.78 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 3.64 and a beta of 0.64. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.92. Nutanix has a 1-year low of $34.01 and a 1-year high of $74.42.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.The business had revenue of $757.08 million during the quarter, compared to analysts’ expectations of $738.27 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Nutanix will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTNX shares. Rosenblatt Securities lifted their price target on Nutanix from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Nutanix in a report on Thursday, August 27th. Northland Securities set a $70.00 price objective on Nutanix in a research note on Thursday, August 27th. Morgan Stanley lifted their target price on Nutanix from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Finally, Wells Fargo & Company upped their target price on Nutanix from $55.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.07.

Nutanix Profile

Nutanix, Inc develops enterprise cloud software that helps organizations manage applications and data across on-premises infrastructure, public clouds and hybrid multicloud environments. Its platform is designed to simplify the operation of data centers and cloud resources through a unified software experience.

The company’s offerings include hyperconverged infrastructure software, the Nutanix Cloud Infrastructure platform and AHV virtualization. Nutanix also provides services for file and object storage, databases, disaster recovery, Kubernetes and application management, as well as tools that help customers monitor, secure and govern their hybrid and multicloud environments.

Founded in 2009 and headquartered in San Jose, California, Nutanix serves businesses, government organizations and other institutions globally through direct sales and channel partners.