Elevation Point Wealth Partners LLC Invests $540,000 in Nutanix $NTNX

Elevation Point Wealth Partners LLC bought a new position in Nutanix (NASDAQ:NTNX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,207 shares of the technology company’s stock, valued at approximately $540,000.

Several other institutional investors have also added to or reduced their stakes in NTNX. Nordea Investment Management AB lifted its position in Nutanix by 22.8% during the 4th 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 period. SG Americas Securities LLC boosted its holdings 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 buying an additional 128,750 shares in the last quarter. Ossiam boosted its stake in shares of Nutanix by 85.5% during the 3rd quarter. Ossiam now owns 139,672 shares of the technology company’s stock worth $10,390,000 after acquiring an additional 64,392 shares in the last quarter. Katamaran Capital LLP grew its holdings in Nutanix by 270.0% in the fourth quarter. Katamaran Capital LLP now owns 86,094 shares of the technology company’s stock valued at $4,450,000 after purchasing an additional 62,825 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Nutanix by 16.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 197,909 shares of the technology company’s stock valued at $10,230,000 after purchasing an additional 28,369 shares during the period. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Stock Up 0.3%

Shares of NASDAQ NTNX opened at $53.93 on Thursday. The firm has a 50-day simple moving average of $48.37 and a 200-day simple moving average of $44.68. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 56.77, a price-to-earnings-growth ratio of 4.74 and a beta of 0.61. Nutanix has a 52 week low of $34.01 and a 52 week high of $82.42.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data 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 company had revenue of $364.94 million during 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 quarter in the prior year, the company earned $0.22 EPS. As a group, equities research analysts expect that Nutanix will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTNX. JPMorgan Chase & Co. upped their target price on Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Wells Fargo & Company boosted their price target on shares of Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a research report on Wednesday, June 24th. Needham & Company LLC increased their price objective on shares of Nutanix from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Morgan Stanley lifted their target price on shares of Nutanix from $53.00 to $55.00 and gave the company 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

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.