Atreides Management LP Invests $8.29 Million in Nutanix, Inc. (NASDAQ:NTNX)

Atreides Management LP purchased a new position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 139,912 shares of the technology company's stock, valued at approximately $8,290,000. Atreides Management LP owned 0.05% of Nutanix at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bain Capital Investors LLC purchased a new stake in shares of Nutanix during the 3rd quarter worth approximately $998,601,000. Driehaus Capital Management LLC raised its stake in Nutanix by 123.9% during the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company's stock valued at $81,593,000 after purchasing an additional 794,215 shares in the last quarter. Marshall Wace LLP lifted its position in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company's stock valued at $84,308,000 after purchasing an additional 477,838 shares during the last quarter. Deepwater Asset Management LLC bought a new stake in shares of Nutanix in the 2nd quarter worth about $15,480,000. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in shares of Nutanix during the 2nd quarter valued at about $14,781,000. Institutional investors own 85.25% of the company's stock.

Nutanix Trading Up 1.3 %

Shares of NTNX traded up $0.87 during midday trading on Monday, hitting $66.15. 3,510,568 shares of the company's stock traded hands, compared to its average volume of 2,581,811. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of -188.97, a price-to-earnings-growth ratio of 10.80 and a beta of 1.17. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $75.80. The firm's fifty day moving average is $64.88 and its 200-day moving average is $59.33.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the transaction, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares of the company's stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

NTNX has been the subject of several recent research reports. Northland Securities reiterated a "market perform" rating and issued a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Piper Sandler raised their price target on Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Nutanix from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Finally, Barclays raised their target price on shares of Nutanix from $75.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned 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 $78.86.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.