Pictet Asset Management Holding SA Has $118.81 Million Holdings in Nutanix $NTNX

Pictet Asset Management Holding SA trimmed its position in Nutanix (NASDAQ:NTNX) by 16.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,125,792 shares of the technology company’s stock after selling 619,575 shares during the period. Pictet Asset Management Holding SA owned 1.18% of Nutanix worth $118,809,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC grew its position in Nutanix by 34.0% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,008 shares of the technology company’s stock worth $456,000 after acquiring an additional 3,047 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Nutanix in the 1st quarter worth about $2,980,000. Fifth Third Wealth Advisors LLC raised its position in Nutanix by 8.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 7,942 shares of the technology company’s stock valued at $302,000 after purchasing an additional 648 shares during the last quarter. OP Asset Management Ltd bought a new position in Nutanix in the first quarter valued at about $10,843,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Nutanix by 0.8% during the first quarter. Assenagon Asset Management S.A. now owns 199,501 shares of the technology company’s stock valued at $7,583,000 after purchasing an additional 1,592 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. KeyCorp restated an “overweight” rating on shares of Nutanix in a report on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Nutanix in a research report on Thursday, May 28th. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Nutanix in a report on Friday, May 29th. Wells Fargo & Company upped their price target on shares of Nutanix from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Nutanix Stock Performance

Shares of NTNX stock opened at $49.72 on Monday. The stock has a market cap of $13.44 billion, a price-to-earnings ratio of 52.34, a PEG ratio of 4.38 and a beta of 0.62. The stock has a 50-day moving average of $46.52 and a 200-day moving average of $44.47. Nutanix has a 1-year low of $34.01 and a 1-year high of $82.42.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The company had revenue of $364.94 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. Sell-side analysts forecast that Nutanix will post 0.71 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.