Retirement Systems of Alabama Buys 401,012 Shares of Nutanix $NTNX

Retirement Systems of Alabama lifted its position in Nutanix (NASDAQ:NTNX) by 123.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 725,133 shares of the technology company’s stock after purchasing an additional 401,012 shares during the period. Retirement Systems of Alabama’s holdings in Nutanix were worth $37,482,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Crestwood Advisors Group LLC grew its stake in Nutanix by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock valued at $3,236,000 after acquiring an additional 161 shares in the last quarter. OFI Invest Asset Management lifted its stake in Nutanix by 14.9% in the 3rd quarter. OFI Invest Asset Management now owns 1,696 shares of the technology company’s stock worth $126,000 after purchasing an additional 220 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Nutanix by 18.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,453 shares of the technology company’s stock worth $111,000 after purchasing an additional 224 shares in the last quarter. CWC Advisors LLC. boosted its holdings in Nutanix by 4.3% in the 3rd quarter. CWC Advisors LLC. now owns 5,636 shares of the technology company’s stock valued at $419,000 after purchasing an additional 234 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Nutanix by 31.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,223 shares of the technology company’s stock valued at $94,000 after purchasing an additional 291 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Wall Street Zen lowered Nutanix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Piper Sandler reduced their target price on Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Wells Fargo & Company decreased their target price on Nutanix from $57.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Needham & Company LLC lowered their price target on Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.43.

Nutanix Stock Up 0.2%

NTNX opened at $38.01 on Wednesday. The business’s fifty day simple moving average is $40.09 and its 200 day simple moving average is $53.81. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36. The stock has a market cap of $10.08 billion, a PE ratio of 41.32, a P/E/G ratio of 4.06 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The firm had revenue of $722.83 million during the quarter, compared to analyst estimates of $709.83 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that Nutanix will post 0.31 earnings per share for the current year.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.