Paralel Advisors LLC Grows Stake in Nutanix $NTNX

Paralel Advisors LLC grew its stake in shares of Nutanix (NASDAQ:NTNX) by 58.6% in the second quarter, Holdings Channel reports. The fund owned 60,770 shares of the technology company’s stock after acquiring an additional 22,453 shares during the quarter. Paralel Advisors LLC’s holdings in Nutanix were worth $3,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Wedmont Private Capital purchased a new position in Nutanix in the second quarter valued at approximately $227,000. HB Wealth Management LLC grew its stake in shares of Nutanix by 63.7% during the 2nd quarter. HB Wealth Management LLC now owns 15,388 shares of the technology company’s stock worth $784,000 after acquiring an additional 5,987 shares during the period. Compass Financial Management LLC purchased a new stake in Nutanix in the 2nd quarter worth about $275,000. Plan A Wealth LLC purchased a new stake in Nutanix in the 2nd quarter worth about $280,000. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in Nutanix by 1.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 22,673 shares of the technology company’s stock valued at $1,155,000 after acquiring an additional 373 shares during the period. Institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $68.06 on Monday. Nutanix has a 52 week low of $34.01 and a 52 week high of $82.42. The business has a 50-day simple moving average of $60.15 and a two-hundred day simple moving average of $49.18. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.92. The company has a market cap of $18.40 billion, a P/E ratio of 13.19, a P/E/G ratio of 3.86 and a beta of 0.62.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.The business had revenue of $757.08 million during the quarter, compared to analyst estimates of $738.27 million. During the same quarter in the previous year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that Nutanix will post 1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research report on Wednesday, June 24th. Barclays boosted their price target on shares of Nutanix from $53.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 28th. Wells Fargo & Company upped their price target on shares of Nutanix from $55.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Bank of America reaffirmed a “buy” rating on shares of Nutanix in a report on Thursday, August 27th. Finally, KeyCorp lifted their price objective on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.71.

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.