Azzad Asset Management Inc. ADV Buys New Shares in Nutanix, Inc. (NASDAQ:NTNX)

Azzad Asset Management Inc. ADV bought a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 35,185 shares of the technology company’s stock, valued at approximately $2,000,000.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nutanix during the second quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Nutanix during the fourth quarter worth about $29,000. GAMMA Investing LLC purchased a new stake in shares of Nutanix during the fourth quarter worth about $30,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Nutanix during the fourth quarter worth about $37,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Nutanix during the first quarter worth about $64,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares in the company, valued at approximately $3,486,205.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nutanix news, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now directly owns 144,902 shares in the company, valued at approximately $7,711,684.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the transaction, the chief operating officer now owns 64,333 shares in the company, valued at $3,486,205.27. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock worth $2,531,273 in the last ninety days. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on NTNX shares. Raymond James increased their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler increased their price target on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp raised their price objective on Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Bank of America raised their price objective on Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Nutanix in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.31.

Nutanix Stock Performance

Shares of NTNX stock opened at $63.19 on Friday. Nutanix, Inc. has a 52-week low of $30.26 and a 52-week high of $73.69. The firm has a market capitalization of $15.59 billion, a P/E ratio of -902.71, a P/E/G ratio of 4.45 and a beta of 1.16. The stock has a 50 day moving average price of $52.87 and a 200 day moving average price of $58.73.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.12. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. The firm had revenue of $524.58 million during the quarter, compared to analyst estimates of $516.13 million. As a group, sell-side analysts forecast that Nutanix, Inc. will post 0.12 EPS for the current 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.