California Public Employees Retirement System Raises Holdings in Nutanix $NTNX

California Public Employees Retirement System increased its position in Nutanix (NASDAQ:NTNX) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,375 shares of the technology company’s stock after buying an additional 38,153 shares during the period. California Public Employees Retirement System’s holdings in Nutanix were worth $20,958,000 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. New Millennium Group LLC purchased a new position in Nutanix during the 4th quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in Nutanix in the 4th quarter worth approximately $39,000. Covestor Ltd raised its holdings in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after acquiring an additional 324 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after acquiring an additional 502 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Nutanix by 1,063.8% in the first quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. 85.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Nutanix from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a report on Wednesday, June 24th. Piper Sandler restated an “overweight” rating on shares of Nutanix in a research report on Wednesday, June 24th. Barclays increased their price target on shares of Nutanix from $47.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Finally, UBS Group raised their price objective on Nutanix from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix Stock Performance

Shares of NTNX stock opened at $53.36 on Thursday. The stock has a 50 day moving average price of $50.62 and a 200 day moving average price of $44.87. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42. The firm has a market capitalization of $14.42 billion, a P/E ratio of 56.17, a P/E/G ratio of 4.78 and a beta of 0.61.

Nutanix (NASDAQ:NTNX) last released its 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 business had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, sell-side analysts forecast that Nutanix will post 0.71 EPS for the current year.

Nutanix 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.