Avantax Advisory Services Inc. Purchases 624 Shares of Nutanix (NASDAQ:NTNX)

Avantax Advisory Services Inc. boosted its position in Nutanix (NASDAQ:NTNX) by 11.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,322 shares of the technology company’s stock after purchasing an additional 624 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Nutanix were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Colonial Trust Co SC acquired a new position in shares of Nutanix during the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of Nutanix during the first quarter valued at about $30,000. Fifth Third Bancorp increased its holdings in shares of Nutanix by 98.4% during the first quarter. Fifth Third Bancorp now owns 504 shares of the technology company’s stock valued at $35,000 after acquiring an additional 250 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of Nutanix during the fourth quarter valued at about $70,000. 85.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the transaction, the director owned 5,480,468 shares in the company, valued at $420,954,747.08. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $4,823,503.00. Following the transaction, the chief executive officer owned 497,309 shares in the company, valued at $39,287,411. This trade represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,552,549 shares of company stock worth $426,621,281. Corporate insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Monday, June 30th. Citigroup upgraded Nutanix to a “positive” rating in a research report on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Piper Sandler reiterated an “overweight” rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Finally, Raymond James Financial lowered Nutanix from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Nutanix Trading Up 3.3%

Nutanix stock opened at $75.70 on Thursday. Nutanix has a 12 month low of $47.30 and a 12 month high of $83.36. The stock’s 50 day simple moving average is $74.91 and its two-hundred day simple moving average is $71.76. The firm has a market cap of $20.29 billion, a PE ratio of 149.59, a P/E/G ratio of 5.11 and a beta of 0.71.

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

About Nutanix

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.