Oak Associates Ltd. OH Buys New Shares in Nutanix $NTNX

Oak Associates Ltd. OH bought a new position in shares of Nutanix (NASDAQ:NTNX) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,162 shares of the technology company’s stock, valued at approximately $842,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTNX. SG Americas Securities LLC raised its position in Nutanix by 1,196.7% in the 4th quarter. SG Americas Securities LLC now owns 139,509 shares of the technology company’s stock valued at $7,211,000 after purchasing an additional 128,750 shares during the last quarter. Katamaran Capital LLP grew its holdings in shares of Nutanix by 270.0% during the fourth quarter. Katamaran Capital LLP now owns 86,094 shares of the technology company’s stock worth $4,450,000 after buying an additional 62,825 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in Nutanix during the 4th quarter worth approximately $1,800,000. Assenagon Asset Management S.A. grew its stake in shares of Nutanix by 16.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 197,909 shares of the technology company’s stock valued at $10,230,000 after purchasing an additional 28,369 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in shares of Nutanix by 39.5% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 48,698 shares of the technology company’s stock valued at $2,517,000 after purchasing an additional 13,789 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NTNX. Bank of America raised their target price on shares of Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. KeyCorp restated an “overweight” rating on shares of Nutanix in a research report on Thursday, May 28th. Wall Street Zen raised shares of Nutanix from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Piper Sandler restated an “overweight” rating on shares of Nutanix in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company upped their price target on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix Trading Down 1.4%

Shares of NTNX stock opened at $52.63 on Friday. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 55.40, a PEG ratio of 4.70 and a beta of 0.61. The firm has a 50-day moving average price of $50.76 and a 200 day moving average price of $44.89. Nutanix has a twelve month low of $34.01 and a twelve month high of $82.42.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The business had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts predict that Nutanix will post 0.71 earnings per share for the current year.

About Nutanix

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.