PAX Financial Group LLC Invests $1.02 Million in Nutanix (NASDAQ:NTNX)

PAX Financial Group LLC bought a new position in shares of Nutanix (NASDAQ:NTNX) during the first quarter, Holdings Channel reports. The firm bought 14,616 shares of the technology company’s stock, valued at approximately $1,020,000.

Other hedge funds also recently made changes to their positions in the company. Dakota Wealth Management purchased a new position in shares of Nutanix in the first quarter worth about $884,000. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Nutanix during the first quarter worth about $349,000. Signaturefd LLC grew its holdings in shares of Nutanix by 58.6% during the first quarter. Signaturefd LLC now owns 1,600 shares of the technology company’s stock worth $112,000 after purchasing an additional 591 shares in the last quarter. Left Brain Wealth Management LLC purchased a new position in shares of Nutanix during the first quarter worth about $223,000. Finally, CWM LLC grew its holdings in shares of Nutanix by 55.7% during the first quarter. CWM LLC now owns 70,049 shares of the technology company’s stock worth $4,890,000 after purchasing an additional 25,045 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the sale, the chief financial officer directly owned 209,070 shares of the company’s stock, valued at $15,205,661.10. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction 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 sale, the director directly owned 5,480,468 shares in the company, valued at $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. Over the last three months, insiders sold 5,552,549 shares of company stock valued at $426,621,281. 6.80% of the stock is currently owned by corporate insiders.

Nutanix Stock Up 0.1%

Shares of NTNX stock opened at $72.46 on Tuesday. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 147.76, a PEG ratio of 6.69 and a beta of 0.67. The business’s fifty day moving average is $76.33 and its 200 day moving average is $70.53. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $626.12 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Susquehanna boosted their price objective on Nutanix from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Thursday, May 29th. Wall Street Zen lowered Nutanix from a “strong-buy” rating to a “buy” rating in a report on Monday, June 30th. Needham & Company LLC restated a “buy” rating and issued a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Morgan Stanley restated 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. Finally, Raymond James Financial downgraded Nutanix from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.71.

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.