Louisiana State Employees Retirement System Acquires Shares of 78,400 Nutanix $NTNX

Louisiana State Employees Retirement System bought a new position in shares of Nutanix (NASDAQ:NTNX) during the 1st quarter, HoldingsChannel.com reports. The fund bought 78,400 shares of the technology company’s stock, valued at approximately $2,980,000.

Several other large investors have also recently made changes to their positions in NTNX. CW Advisors LLC purchased a new position in Nutanix in the second quarter valued at approximately $273,000. Cerity Partners LLC increased its position in Nutanix by 15.2% in the second quarter. Cerity Partners LLC now owns 83,073 shares of the technology company’s stock worth $6,350,000 after buying an additional 10,967 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Nutanix by 296.5% in the second quarter. Bank of Nova Scotia now owns 41,616 shares of the technology company’s stock valued at $3,181,000 after buying an additional 31,119 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Nutanix by 94.7% in the second quarter. Daiwa Securities Group Inc. now owns 48,263 shares of the technology company’s stock valued at $3,690,000 after buying an additional 23,479 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Nutanix by 164.4% during the 2nd quarter. NewEdge Advisors LLC now owns 8,622 shares of the technology company’s stock valued at $659,000 after buying an additional 5,361 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NTNX. William Blair reiterated a “market perform” rating on shares of Nutanix in a research report on Monday, March 23rd. Needham & Company LLC boosted their price target on shares of Nutanix from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Bank of America upped their price target on shares of Nutanix from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Nutanix in a report on Thursday, May 28th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Nutanix in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Price Performance

NTNX opened at $49.72 on Monday. The business’s fifty day simple moving average is $46.52 and its 200 day simple moving average is $44.47. The stock has a market cap of $13.44 billion, a PE ratio of 52.34, a P/E/G ratio of 4.38 and a beta of 0.62. Nutanix has a 52 week low of $34.01 and a 52 week high of $82.42.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. The firm had revenue of $364.94 million during the quarter, compared to analyst estimates of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, equities analysts anticipate that Nutanix will post 0.71 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.