Deerfield Management Company L.P. Series C Makes New Investment in Nutanix, Inc. (NASDAQ:NTNX)

Deerfield Management Company L.P. Series C bought a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,207 shares of the technology company’s stock, valued at approximately $808,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Nutanix by 30.8% in the 2nd quarter. AQR Capital Management LLC now owns 978,329 shares of the technology company’s stock worth $55,618,000 after buying an additional 230,639 shares during the last quarter. AXA S.A. purchased a new stake in shares of Nutanix in the 2nd quarter worth approximately $1,046,000. Fred Alger Management LLC purchased a new stake in shares of Nutanix in the 2nd quarter worth approximately $9,441,000. Marshall Wace LLP grew its stake in shares of Nutanix by 47.5% in the 2nd quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after buying an additional 477,838 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Nutanix by 5.0% in the 2nd quarter. Xponance Inc. now owns 15,021 shares of the technology company’s stock worth $854,000 after buying an additional 711 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley upped their price target on Nutanix from $62.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Piper Sandler increased their target price on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Northland Securities increased their target price on Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada increased their target price on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.31.

Nutanix Price Performance

NASDAQ NTNX opened at $61.20 on Friday. The business’s fifty day moving average price is $54.44 and its 200-day moving average price is $58.74. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of -874.29, a PEG ratio of 12.23 and a beta of 1.19. Nutanix, Inc. has a 1-year low of $33.78 and a 1-year high of $73.69.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Equities research analysts anticipate that Nutanix, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 11,950 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nutanix news, COO David Sangster sold 11,950 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the sale, the chief financial officer now owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Nutanix Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.