Nutanix $NTNX Stock Position Decreased by Bank of Nova Scotia

Bank of Nova Scotia trimmed its position in shares of Nutanix (NASDAQ:NTNX) by 29.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,804 shares of the technology company’s stock after selling 53,988 shares during the quarter. Bank of Nova Scotia’s holdings in Nutanix were worth $4,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Utah Retirement Systems lifted its stake in Nutanix by 0.6% in the fourth quarter. Utah Retirement Systems now owns 42,355 shares of the technology company’s stock valued at $2,189,000 after acquiring an additional 257 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Nutanix by 5.8% during the 1st quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock worth $179,000 after purchasing an additional 259 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Nutanix by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,016 shares of the technology company’s stock worth $4,868,000 after purchasing an additional 260 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of Nutanix by 26.4% during the 4th quarter. Summit Securities Group LLC now owns 1,356 shares of the technology company’s stock valued at $70,000 after purchasing an additional 283 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Morgan Stanley upped their price target on Nutanix from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Piper Sandler reissued an “overweight” rating on shares of Nutanix in a research note on Wednesday, June 24th. Wells Fargo & Company boosted their target price on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Finally, Barclays upped their target price on Nutanix from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Nutanix Price Performance

Nutanix stock opened at $56.85 on Tuesday. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42. The firm has a fifty day moving average price of $51.13 and a two-hundred day moving average price of $44.95. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of 59.84, a P/E/G ratio of 4.85 and a beta of 0.61.

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