Fred Alger Management LLC Buys Shares of 166,074 Nutanix, Inc. (NASDAQ:NTNX)

Fred Alger Management LLC acquired a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 166,074 shares of the technology company’s stock, valued at approximately $9,441,000. Fred Alger Management LLC owned 0.07% of Nutanix as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Nutanix by 35.2% in the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after acquiring an additional 243 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Nutanix by 2.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 369 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Nutanix by 9.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company’s stock valued at $256,000 after purchasing an additional 370 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in Nutanix by 3.6% in the second quarter. 180 Wealth Advisors LLC now owns 10,854 shares of the technology company’s stock worth $615,000 after purchasing an additional 374 shares during the period. Finally, CIBC Asset Management Inc grew its position in Nutanix by 5.8% in the 2nd quarter. CIBC Asset Management Inc now owns 6,803 shares of the technology company’s stock valued at $387,000 after buying an additional 374 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $61.22 on Thursday. The stock has a market capitalization of $15.10 billion, a P/E ratio of -874.45, a P/E/G ratio of 12.23 and a beta of 1.19. The business has a 50-day moving average of $54.44 and a two-hundred day moving average of $58.74. Nutanix, Inc. has a fifty-two week low of $33.78 and a fifty-two week high of $73.69.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. As a group, research analysts expect that Nutanix, Inc. will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley upped their price target on shares of Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Bank of America lifted their price objective on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Piper Sandler increased their target price on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Barclays raised their target price on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Nutanix has a consensus rating of “Moderate Buy” and an average target price of $73.31.

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.