PNC Financial Services Group Inc. Buys 816 Shares of Nutanix (NASDAQ:NTNX)

PNC Financial Services Group Inc. increased its stake in Nutanix (NASDAQ:NTNX) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,216 shares of the technology company’s stock after purchasing an additional 816 shares during the period. PNC Financial Services Group Inc.’s holdings in Nutanix were worth $434,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Colonial Trust Co SC bought a new position in shares of Nutanix in the fourth quarter worth $28,000. MassMutual Private Wealth & Trust FSB grew its position in Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. GW&K Investment Management LLC bought a new position in Nutanix in the first quarter valued at about $30,000. Fifth Third Bancorp grew its position in Nutanix by 98.4% in the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company’s stock valued at $35,000 after acquiring an additional 250 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Nutanix in the fourth quarter valued at about $70,000. Institutional investors own 85.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. The Goldman Sachs Group assumed coverage on Nutanix in a research report on Tuesday, July 15th. They issued a “buy” rating and a $95.00 target price on the stock. Raymond James Financial cut Nutanix from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 20th. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the transaction, the director directly owned 38,330 shares of the company’s stock, valued at approximately $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the transaction, the director directly owned 5,480,468 shares in the company, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,491,492 shares of company stock valued at $421,797,778 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Nutanix Stock Performance

Shares of NTNX opened at $68.61 on Friday. Nutanix has a 52-week low of $51.11 and a 52-week high of $83.36. The business’s 50 day moving average price is $74.04 and its two-hundred day moving average price is $72.00. The firm has a market cap of $18.39 billion, a PE ratio of 143.24, a price-to-earnings-growth ratio of 4.89 and a beta of 0.71.

Nutanix (NASDAQ:NTNX) last issued 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 negative return on equity of 21.32% and a net margin of 0.97%. The firm had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year. Research analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

Nutanix Profile

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.