Wealth Enhancement Advisory Services LLC Purchases 16,447 Shares of Nutanix (NASDAQ:NTNX)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Nutanix (NASDAQ:NTNX) by 49.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 49,515 shares of the technology company’s stock after buying an additional 16,447 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Nutanix were worth $3,457,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Azzad Asset Management Inc. ADV boosted its holdings in shares of Nutanix by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 35,285 shares of the technology company’s stock worth $2,463,000 after buying an additional 398 shares during the period. Stanley Laman Group Ltd. bought a new stake in shares of Nutanix during the 1st quarter worth about $4,042,000. NorthCrest Asset Manangement LLC bought a new stake in shares of Nutanix during the 1st quarter worth about $370,000. Tobam boosted its holdings in shares of Nutanix by 15.3% during the 1st quarter. Tobam now owns 37,461 shares of the technology company’s stock worth $2,615,000 after buying an additional 4,970 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Nutanix by 98.4% during the 1st quarter. Fifth Third Bancorp now owns 504 shares of the technology company’s stock worth $35,000 after buying an additional 250 shares during the period. Institutional investors own 85.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. KeyCorp assumed coverage on shares of Nutanix in a report on Thursday. They set an “overweight” rating and a $95.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Royal Bank Of Canada boosted their price objective on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. UBS Group boosted their price objective on shares of Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Raymond James Financial downgraded shares of Nutanix from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $90.71.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the transaction, the chief financial officer now owns 209,070 shares of the company’s stock, valued at $15,205,661.10. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the transaction, the chief executive officer now directly owns 497,309 shares of the company’s stock, valued at approximately $39,287,411. The trade was a 10.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,550,624 shares of company stock valued at $426,476,906 in the last quarter. Insiders own 6.80% of the company’s stock.

Nutanix Trading Up 2.5%

Shares of Nutanix stock opened at $75.28 on Friday. The company has a 50 day moving average of $74.19 and a 200-day moving average of $69.59. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.36. The company has a market cap of $20.18 billion, a PE ratio of -268.86, a price-to-earnings-growth ratio of 6.67 and a beta of 0.69.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Research analysts forecast that Nutanix will post 0.31 earnings per share for the current year.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.