Axxcess Wealth Management LLC Invests $595,000 in Nutanix, Inc. (NASDAQ:NTNX)

Axxcess Wealth Management LLC purchased a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 12,478 shares of the technology company’s stock, valued at approximately $595,000.

A number of other hedge funds have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Nutanix by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,290 shares of the technology company’s stock worth $1,963,000 after purchasing an additional 6,716 shares during the period. BluePath Capital Management LLC acquired a new position in Nutanix in the third quarter worth $31,000. Mackenzie Financial Corp boosted its holdings in Nutanix by 2.5% in the third quarter. Mackenzie Financial Corp now owns 576,015 shares of the technology company’s stock worth $19,763,000 after purchasing an additional 14,192 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Nutanix by 641.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 57,174 shares of the technology company’s stock worth $1,994,000 after purchasing an additional 49,465 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in Nutanix in the third quarter worth $224,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NTNX. Raymond James raised shares of Nutanix from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Nutanix from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 26th. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th. Piper Sandler boosted their price target on shares of Nutanix from $67.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC boosted their price target on shares of Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.69.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 25,000 shares of Nutanix stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $1,602,750.00. Following the transaction, the director now owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nutanix news, insider Tyler Wall sold 15,000 shares of Nutanix stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total transaction of $933,750.00. Following the transaction, the insider now owns 13,168 shares of the company’s stock, valued at approximately $819,708. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 25,000 shares of Nutanix stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $64.11, for a total value of $1,602,750.00. Following the transaction, the director now directly owns 3,962 shares in the company, valued at approximately $254,003.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,506 shares of company stock valued at $8,270,938. 0.46% of the stock is owned by corporate insiders.

Nutanix Trading Up 0.6 %

Shares of Nutanix stock opened at $65.32 on Wednesday. The company’s 50-day moving average price is $62.90 and its two-hundred day moving average price is $52.87. Nutanix, Inc. has a 52 week low of $23.88 and a 52 week high of $66.99. The stock has a market cap of $15.96 billion, a PE ratio of -181.44 and a beta of 1.27.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The business had revenue of $565.23 million during the quarter, compared to the consensus estimate of $551.82 million. On average, equities analysts predict that Nutanix, Inc. will post -0.04 EPS for the current fiscal year.

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.