Principal Financial Group Inc. Grows Holdings in Nutanix $NTNX

Principal Financial Group Inc. boosted its position in Nutanix (NASDAQ:NTNX) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 604,657 shares of the technology company’s stock after buying an additional 23,131 shares during the quarter. Principal Financial Group Inc.’s holdings in Nutanix were worth $22,983,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of analysts recently commented on NTNX shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Nutanix in a report on Thursday, May 28th. Morgan Stanley increased their price target 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. Wall Street Zen upgraded shares of Nutanix from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Royal Bank Of Canada boosted their target price on shares of Nutanix from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Finally, Piper Sandler reissued an “overweight” rating on shares of Nutanix in a research report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Nutanix has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Price Performance

NASDAQ:NTNX opened at $54.19 on Wednesday. The company has a market capitalization of $14.65 billion, a P/E ratio of 57.04, a P/E/G ratio of 4.86 and a beta of 0.61. The business has a fifty day simple moving average of $50.44 and a two-hundred day simple moving average of $44.86. Nutanix has a 1 year low of $34.01 and a 1 year high of $82.42.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. The firm 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 business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts anticipate that Nutanix will post 0.71 earnings per share 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.