Norges Bank Makes New $187.17 Million Investment in Nutanix $NTNX

Norges Bank bought a new position in shares of Nutanix (NASDAQ:NTNX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,620,987 shares of the technology company’s stock, valued at approximately $187,169,000. Norges Bank owned about 1.34% of Nutanix at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Nutanix by 102.0% during the third quarter. Rhumbline Advisers now owns 868,143 shares of the technology company’s stock worth $64,581,000 after acquiring an additional 438,268 shares during the last quarter. Vinva Investment Management Ltd raised its position in Nutanix by 222.8% during the third quarter. Vinva Investment Management Ltd now owns 353,511 shares of the technology company’s stock worth $27,221,000 after acquiring an additional 244,006 shares during the last quarter. Nordea Investment Management AB raised its position in Nutanix by 22.8% during the fourth quarter. Nordea Investment Management AB now owns 3,517,888 shares of the technology company’s stock worth $181,734,000 after acquiring an additional 653,042 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Nutanix by 674.7% during the third quarter. Thrivent Financial for Lutherans now owns 61,590 shares of the technology company’s stock worth $4,582,000 after acquiring an additional 53,640 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Nutanix by 1,196.7% during the fourth quarter. SG Americas Securities LLC now owns 139,509 shares of the technology company’s stock worth $7,211,000 after acquiring an additional 128,750 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Analyst Upgrades and Downgrades

NTNX has been the subject of a number of recent research reports. William Blair reiterated a “market perform” rating on shares of Nutanix in a report on Monday, March 23rd. KeyCorp reiterated an “overweight” rating on shares of Nutanix in a report on Thursday, May 28th. Morgan Stanley lifted their price target on shares of Nutanix from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and set a $60.00 price target on shares of Nutanix in a report on Friday, May 29th. Finally, Bank of America lifted their price target on shares of Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix Stock Down 4.4%

Shares of NTNX stock opened at $53.04 on Thursday. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 55.83, a price-to-earnings-growth ratio of 6.20 and a beta of 0.62. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42. The firm’s 50 day moving average price is $42.87 and its two-hundred day moving average price is $45.03.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. The firm had revenue of $364.94 million for the quarter, compared to analysts’ expectations of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. Nutanix’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. On average, equities analysts forecast that Nutanix will post 0.56 EPS for the current fiscal 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.