Inspire Investing LLC Grows Stake in Nutanix, Inc. (NASDAQ:NTNX)

Inspire Investing LLC lifted its position in Nutanix, Inc. (NASDAQ:NTNX) by 22.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,606 shares of the technology company’s stock after buying an additional 8,287 shares during the period. Inspire Investing LLC’s holdings in Nutanix were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nutanix in the 2nd quarter worth $25,000. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix in the 2nd quarter worth $32,000. Kapitalo Investimentos Ltda purchased a new position in shares of Nutanix in the 4th quarter worth $37,000. GAMMA Investing LLC lifted its position in Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after purchasing an additional 243 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Nutanix during the first quarter valued at $64,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Stock Performance

Shares of NTNX stock opened at $64.61 on Friday. Nutanix, Inc. has a 12-month low of $34.40 and a 12-month high of $73.69. The stock’s 50-day moving average price is $57.24 and its 200-day moving average price is $58.51. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of -923.00, a price-to-earnings-growth ratio of 12.80 and a beta of 1.18.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The firm had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. As a group, research analysts predict that Nutanix, Inc. will post 0.27 EPS for the current fiscal year.

Insider Transactions at Nutanix

In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Nutanix news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the sale, the chief financial officer now directly owns 192,169 shares in the company, valued at $11,309,145.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NTNX shares. Raymond James lifted their target price on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler lifted their target price on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley lifted their target price on Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada lifted their target price on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Nutanix currently has an average rating of “Moderate Buy” and a consensus target price of $73.31.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.