Allstate Corp Makes New Investment in Nutanix, Inc. (NASDAQ:NTNX)

Allstate Corp acquired a new stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,245 shares of the technology company's stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. DnB Asset Management AS bought a new position in Nutanix in the 4th quarter valued at $2,597,000. Pictet Asset Management Holding SA boosted its stake in Nutanix by 6,785.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after buying an additional 2,108,269 shares during the period. Nomura Asset Management Co. Ltd. purchased a new position in Nutanix during the fourth quarter worth about $4,220,000. Norges Bank purchased a new position in Nutanix during the fourth quarter worth about $195,758,000. Finally, UniSuper Management Pty Ltd bought a new position in Nutanix in the 4th quarter worth about $294,000. Institutional investors own 85.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NTNX shares. JPMorgan Chase & Co. boosted their price objective on Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Oppenheimer lifted their target price on shares of Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Barclays set a $94.00 price target on shares of Nutanix and gave the stock an "overweight" rating in a report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on shares of Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC upped their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $87.79.

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Nutanix Stock Down 9.7 %

Shares of NTNX traded down $6.28 during trading hours on Friday, hitting $58.50. The company had a trading volume of 4,450,783 shares, compared to its average volume of 2,489,955. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $79.99. The stock's 50 day moving average price is $70.53 and its 200 day moving average price is $66.70. The firm has a market cap of $15.60 billion, a P/E ratio of -167.14, a P/E/G ratio of 11.80 and a beta of 1.04.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total transaction of $533,120.00. Following the completion of the transaction, the director now directly owns 3,050 shares of the company's stock, valued at approximately $232,288. This represents a 69.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 7,740 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $75.00, for a total value of $580,500.00. Following the completion of the sale, the chief executive officer now directly owns 558,366 shares in the company, valued at $41,877,450. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,886 shares of company stock worth $417,646,356 in the last ninety days. 6.80% of the stock is owned by insiders.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.