63,800 Shares in Nutanix $NTNX Bought by State of Michigan Retirement System

State of Michigan Retirement System acquired a new stake in Nutanix (NASDAQ:NTNX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,800 shares of the technology company’s stock, valued at approximately $4,746,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in Nutanix by 30.8% during the second quarter. AQR Capital Management LLC now owns 4,712,266 shares of the technology company’s stock worth $360,206,000 after purchasing an additional 1,108,261 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nutanix by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,549,909 shares of the technology company’s stock valued at $346,720,000 after purchasing an additional 25,918 shares during the last quarter. Federated Hermes Inc. increased its position in Nutanix by 10.7% during the 3rd quarter. Federated Hermes Inc. now owns 3,559,876 shares of the technology company’s stock worth $264,819,000 after purchasing an additional 344,076 shares in the last quarter. Norges Bank acquired a new position in shares of Nutanix in the second quarter valued at approximately $263,938,000. Finally, Marshall Wace LLP raised its holdings in Nutanix by 75.9% in the 2nd quarter. Marshall Wace LLP now owns 3,279,107 shares of the technology company’s stock valued at $250,655,000 after acquiring an additional 1,415,117 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on NTNX shares. Bank of America cut their price objective on Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Wells Fargo & Company dropped their price objective on shares of Nutanix from $71.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 26th. Barclays restated an “equal weight” rating and issued a $53.00 target price (down from $64.00) on shares of Nutanix in a research report on Thursday, January 15th. Morgan Stanley set a $62.00 target price on Nutanix in a research note on Monday, January 12th. Finally, Needham & Company LLC reduced their price objective on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.80.

Nutanix Trading Up 3.3%

NTNX stock opened at $41.59 on Tuesday. The business’s 50 day moving average is $47.34 and its 200-day moving average is $61.81. Nutanix has a 1-year low of $35.39 and a 1-year high of $83.36. The firm has a market cap of $11.25 billion, a P/E ratio of 55.45, a P/E/G ratio of 4.30 and a beta of 0.48.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. Sell-side analysts forecast that Nutanix will post 0.31 EPS 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.