Hsbc Holdings PLC Boosts Position in Nutanix $NTNX

Hsbc Holdings PLC lifted its holdings in shares of Nutanix (NASDAQ:NTNX) by 374.9% in the first quarter, Holdings Channel.com reports. The fund owned 592,587 shares of the technology company’s stock after purchasing an additional 467,808 shares during the period. Hsbc Holdings PLC’s holdings in Nutanix were worth $22,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New Millennium Group LLC bought a new stake in Nutanix in the fourth quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in Nutanix in the 4th quarter worth $39,000. Covestor Ltd lifted its position in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. lifted its position in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after purchasing an additional 502 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in shares of Nutanix by 78.7% during the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Stock Performance

Shares of NTNX opened at $54.19 on Wednesday. The firm’s 50-day simple moving average is $50.44 and its two-hundred day simple moving average is $44.86. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $82.42. The stock has a market cap of $14.65 billion, a PE ratio of 57.04, a price-to-earnings-growth ratio of 4.86 and a beta of 0.61.

Nutanix (NASDAQ:NTNX) last posted 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. 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 quarter in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Nutanix will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating on shares of Nutanix in a research report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Wall Street Zen raised Nutanix from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Bank of America upped their target price on Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company increased their target price on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

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.