PNC Financial Services Group Inc. Acquires 816 Shares of Nutanix (NASDAQ:NTNX)

PNC Financial Services Group Inc. raised its holdings in shares of Nutanix (NASDAQ:NTNX) by 15.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,216 shares of the technology company’s stock after acquiring an additional 816 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nutanix were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Nutanix by 22.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,686 shares of the technology company’s stock valued at $2,550,000 after buying an additional 7,728 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Nutanix by 49.2% in the 4th quarter. Sterling Capital Management LLC now owns 11,761 shares of the technology company’s stock valued at $720,000 after buying an additional 3,879 shares during the last quarter. Mariner LLC boosted its holdings in shares of Nutanix by 70.4% in the 4th quarter. Mariner LLC now owns 15,589 shares of the technology company’s stock valued at $954,000 after buying an additional 6,439 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Nutanix by 44.7% in the 4th quarter. Guggenheim Capital LLC now owns 11,480 shares of the technology company’s stock valued at $702,000 after buying an additional 3,544 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in shares of Nutanix in the 4th quarter valued at approximately $13,625,000. 85.25% of the stock is owned by institutional investors.

Nutanix Price Performance

NTNX stock opened at $68.61 on Friday. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 143.24, a PEG ratio of 4.89 and a beta of 0.71. The business’s fifty day moving average price is $74.04 and its two-hundred day moving average price is $72.00. Nutanix has a fifty-two week low of $51.11 and a fifty-two week high of $83.36.

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

Insider Transactions at Nutanix

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the transaction, the chief financial officer owned 209,070 shares in the company, valued at approximately $15,205,661.10. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Virginia Gambale sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the transaction, the director owned 38,330 shares in the company, valued at $2,989,740. The trade was a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,491,492 shares of company stock worth $421,797,778 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NTNX shares. KeyCorp started coverage on Nutanix in a report on Thursday, June 26th. They issued an “overweight” rating and a $95.00 price objective for the company. The Goldman Sachs Group initiated coverage on Nutanix in a report on Tuesday, July 15th. They issued a “buy” rating and a $95.00 price objective for the company. Raymond James Financial downgraded Nutanix from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price target on shares of Nutanix in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.00.

Nutanix 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.