Allspring Global Investments Holdings LLC Has $14.80 Million Stake in Nutanix $NTNX

Allspring Global Investments Holdings LLC reduced its stake in shares of Nutanix (NASDAQ:NTNX) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 389,079 shares of the technology company’s stock after selling 17,150 shares during the period. Allspring Global Investments Holdings LLC owned 0.15% of Nutanix worth $14,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Utah Retirement Systems increased its stake in shares of 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 buying an additional 257 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Nutanix by 5.8% in the first quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock worth $179,000 after acquiring an additional 259 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Nutanix by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,016 shares of the technology company’s stock worth $4,868,000 after acquiring an additional 260 shares during the period. Summit Securities Group LLC boosted its holdings in Nutanix by 26.4% in the fourth quarter. Summit Securities Group LLC now owns 1,356 shares of the technology company’s stock valued at $70,000 after acquiring an additional 283 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after acquiring an additional 324 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTNX has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and set a $60.00 price target on shares of Nutanix in a report on Friday, May 29th. JPMorgan Chase & Co. upped their price objective on shares of Nutanix from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Morgan Stanley increased their price objective on shares of Nutanix from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. UBS Group lifted their target price on shares of Nutanix from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Barclays boosted their target price on shares of Nutanix from $47.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix Stock Performance

Shares of NTNX stock opened at $54.19 on Wednesday. The company has a market cap of $14.65 billion, a P/E ratio of 57.04, a PEG ratio of 4.86 and a beta of 0.61. The stock has a 50 day simple moving average of $50.44 and a two-hundred day simple moving average of $44.86. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42.

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. The firm had revenue of $703.07 million for the quarter, compared to analyst estimates of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, research analysts predict that Nutanix will post 0.71 earnings per share for the current year.

Nutanix Profile

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.