Fidelity Management & Research Co recently announced the acquisition of new stake in Nutanix Inc (NASDAQ:NTNX). The institutional investor has increased its shareholding in the Technology company by 1.63% to 35.94 million shares with purchase of 0.58 million shares. This fresh investment now brings its stake to 14.77% valued currently at $1.55 billion. In addition, Generation Investment Management raised its holdings by 0.29 million to 16.96 million shares. And Champlain Investment Partners LLC has lifted its position by 19.03% or 1.65 million shares – to 10.3 million shares.
With over 5.01 million Nutanix Inc (NTNX) shares trading Tuesday and a closing price of $47.00 on the day, the dollar volume was approximately $235.3 million. The shares have shown a positive half year performance of 68.40% and its price on 01/09/24 gained nearly 0.09%. Currently, there are 242.69M common shares owned by the public and among those 241.64M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for NTNX have a consensus price objective of $51.65. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $42.00. The average price target is 9.0% above its recent price level and a downside to the estimated low will see the stock lose -11.9% over that period. But an upside of 21.67% will see the stock hit the forecast high price target while median target price for the stock is $51.00.
Insiders at the company have transacted a total of 80 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 844,293 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 743,396 shares.
The top 3 mutual fund holders in Nutanix Inc are Fidelity Growth Company Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Fidelity Growth Company Fund owns 12.19 million shares of the company’s stock, all valued at over $525.35 million. Vanguard Total Stock Market ETF bought 35333.0 shares to see its total holdings expand to 7.4 million shares valued at over $318.9 million and representing 3.04% of the shares outstanding. Vanguard Small Cap Index Fund bought 25253.0 shares to bring its total holdings to over 6.11 million shares at a value of $263.1 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.51% of the shares outstanding.
Shares of Nutanix Inc (NASDAQ: NTNX) opened at $46.31, down -$0.65 from a prior closing price of $46.96. However, the script later moved the day high at 49.00, up 0.09%. The company’s stock has a 5-day price change of 2.51% and 30.56% over the past three months. NTNX shares are trading -1.45% year to date (YTD), with the 12-month market performance up to 84.10% higher. It has a 12-month low price of $23.34 and touched a high of $47.83 over the same period. NTNX has an average intraday trading volume of 2.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.06%, 10.85%, and 42.92% respectively.
Institutional ownership of Nutanix Inc (NASDAQ: NTNX) shares accounts for 80.86% of the company’s 242.69M shares outstanding. Mutual fund holders own 41.82%, while other institutional holders and individual stakeholders account for 8.98% and 38.88% respectively.
It has a market capitalization of $11.41B and a beta (3y monthly) value of 1.26. The earnings-per-share (ttm) stands at -$0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.19% over the week and 2.25% over the month.
Analysts forecast that Nutanix Inc (NTNX) will achieve an EPS of $0.29 for the current quarter, $0.13 for the next quarter and $1.27 for 2025. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.37. Comparatively, EPS for the current quarter was $0.24 a year ago. Earnings per share for the fiscal year are expected to increase by 53.47%, and 37.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Nutanix Inc (NTNX) as a “Strong Buy” at a consensus score of 1.75. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 5 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NTNX, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on November 30, 2023, with the firm’s price target at $44-$54.
