Sequoia Financial Advisors LLC Purchases Shares of 3,673 Nutanix (NASDAQ:NTNX)

Sequoia Financial Advisors LLC purchased a new stake in Nutanix (NASDAQ:NTNX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,673 shares of the technology company’s stock, valued at approximately $256,000.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Nutanix by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company’s stock valued at $88,271,000 after purchasing an additional 33,980 shares during the period. LPL Financial LLC lifted its holdings in shares of Nutanix by 4.8% during the 4th quarter. LPL Financial LLC now owns 71,732 shares of the technology company’s stock worth $4,389,000 after acquiring an additional 3,276 shares during the period. HighTower Advisors LLC bought a new position in shares of Nutanix during the 4th quarter worth about $234,000. Assenagon Asset Management S.A. lifted its holdings in shares of Nutanix by 69.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 39,873 shares of the technology company’s stock worth $2,784,000 after acquiring an additional 16,374 shares during the period. Finally, Norges Bank bought a new position in shares of Nutanix during the 4th quarter worth about $195,758,000. 85.25% of the stock is owned by institutional investors.

Nutanix Stock Up 1.8%

Shares of NTNX stock opened at $76.81 on Friday. Nutanix has a 12-month low of $43.35 and a 12-month high of $83.36. The company has a market capitalization of $20.59 billion, a P/E ratio of 153.94, a P/E/G ratio of 6.80 and a beta of 0.67. The firm has a 50-day moving average price of $75.60 and a 200 day moving average price of $69.93.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same period last year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, research analysts expect that Nutanix will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NTNX shares. Wall Street Zen downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Monday. Raymond James Financial downgraded shares of Nutanix from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 price objective (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Finally, Susquehanna raised their price objective on shares of Nutanix from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.71.

Insider Activity at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the sale, the chief financial officer owned 209,070 shares in the company, valued at approximately $15,205,661.10. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 1,925 shares of the firm’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $75.00, for a total transaction of $144,375.00. Following the completion of the sale, the chief executive officer owned 518,561 shares of the company’s stock, valued at $38,892,075. The trade was a 0.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,552,549 shares of company stock worth $426,621,281. 6.80% of the stock is owned by insiders.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.