Alliancebernstein L.P. Acquires 186,889 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Alliancebernstein L.P. lifted its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,558,817 shares of the technology company's stock after acquiring an additional 186,889 shares during the period. Alliancebernstein L.P. owned 0.58% of Nutanix worth $95,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Nutanix during the 4th quarter valued at $195,758,000. Pictet Asset Management Holding SA boosted its position in shares of Nutanix by 6,785.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after purchasing an additional 2,108,269 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Nutanix during the 4th quarter valued at about $91,639,000. Raymond James Financial Inc. bought a new stake in shares of Nutanix in the 4th quarter worth approximately $86,824,000. Finally, Two Sigma Advisers LP lifted its stake in Nutanix by 32.8% during the third 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 last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NTNX shares. Needham & Company LLC upped their price target on Nutanix from $90.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Morgan Stanley upped their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Northland Capmk raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Raymond James set a $83.00 price target on Nutanix in a research report on Thursday, February 27th. Finally, Piper Sandler raised their price objective on Nutanix from $83.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $87.79.

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Nutanix Stock Performance

NASDAQ NTNX traded down $0.86 during trading on Monday, reaching $57.64. 1,220,014 shares of the company traded hands, compared to its average volume of 2,485,340. Nutanix, Inc. has a 1-year low of $43.35 and a 1-year high of $79.99. The stock's 50 day moving average price is $70.53 and its two-hundred day moving average price is $66.70. The company has a market cap of $15.37 billion, a price-to-earnings ratio of -165.12, a P/E/G ratio of 11.80 and a beta of 0.84.

Insiders Place Their Bets

In related news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the sale, the director now directly owns 3,050 shares in the company, valued at $232,288. This represents a 69.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the transaction, the chief executive officer now owns 540,463 shares of the company's stock, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,610,886 shares of company stock valued at $417,646,356. 6.80% of the stock is currently owned by insiders.

About Nutanix

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.