abrdn plc Makes New $233,000 Investment in Nutanix, Inc. (NASDAQ:NTNX)

abrdn plc acquired a new stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,805 shares of the technology company's stock, valued at approximately $233,000.

A number of other hedge funds have also recently bought and sold shares of the company. Versor Investments LP lifted its stake in shares of Nutanix by 211.7% in the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company's stock valued at $1,976,000 after purchasing an additional 22,652 shares during the period. Atreides Management LP acquired a new position in shares of Nutanix in the 3rd quarter valued at $8,290,000. Two Sigma Advisers LP lifted its stake in shares of Nutanix by 32.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company's stock valued at $166,730,000 after purchasing an additional 695,567 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Nutanix by 101.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company's stock valued at $2,486,000 after purchasing an additional 21,086 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in shares of Nutanix by 10.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company's stock valued at $80,287,000 after purchasing an additional 125,657 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Nutanix Stock Performance

Nutanix stock traded down $0.34 during midday trading on Friday, reaching $70.47. 1,694,924 shares of the company's stock were exchanged, compared to its average volume of 1,916,061. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $75.80. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of -201.34, a P/E/G ratio of 11.60 and a beta of 1.17. The stock's 50-day simple moving average is $65.76 and its 200 day simple moving average is $62.70.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the sale, the director now directly owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the sale, the chief executive officer now owns 649,034 shares of the company's stock, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,917 shares of company stock worth $12,114,781 over the last three months. Insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

NTNX has been the topic of several research analyst reports. Northland Securities reaffirmed a "market perform" rating and set a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price objective on Nutanix from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Morgan Stanley raised their price objective on Nutanix from $78.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Needham & Company LLC increased their target price on Nutanix from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, Piper Sandler increased their target price on Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $79.50.

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.