Empowered Funds LLC Grows Stock Holdings in Nutanix $NTNX

Empowered Funds LLC lifted its position in Nutanix (NASDAQ:NTNX) by 361.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 53,537 shares of the technology company’s stock after purchasing an additional 41,940 shares during the period. Empowered Funds LLC’s holdings in Nutanix were worth $2,035,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Nutanix during the 4th quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in Nutanix during the 4th quarter valued at $39,000. Covestor Ltd raised its holdings in 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 buying an additional 324 shares during the last quarter. Harbour Investments Inc. boosted its position in Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after buying an additional 502 shares during the period. Finally, Frazier Financial Advisors LLC boosted its position in Nutanix by 1,063.8% during the 1st quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock valued at $42,000 after buying an additional 1,000 shares during the period. Institutional investors own 85.25% of the company’s stock.

Analysts Set New Price Targets

NTNX has been the topic of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $60.00 price objective on shares of Nutanix in a research report on Friday, May 29th. Royal Bank Of Canada increased their target price on shares of Nutanix from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Morgan Stanley raised their target price on Nutanix from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Zacks Research raised Nutanix from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Nutanix in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix Stock Performance

Nutanix stock opened at $60.12 on Friday. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42. The stock’s 50 day simple moving average is $53.25 and its two-hundred day simple moving average is $45.44. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 63.28, a PEG ratio of 4.04 and a beta of 0.60.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.12. The company had revenue of $703.07 million for the quarter, compared to analysts’ expectations of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, analysts predict that Nutanix will post 0.71 earnings per share for the current year.

Nutanix Company 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.