Bank of Montreal Can Has $10.72 Million Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Bank of Montreal Can cut its holdings in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 93.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,270 shares of the technology company's stock after selling 2,405,170 shares during the quarter. Bank of Montreal Can owned about 0.07% of Nutanix worth $10,723,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NTNX. Vanguard Group Inc. lifted its stake in shares of Nutanix by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock valued at $1,568,447,000 after purchasing an additional 146,854 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Nutanix by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after buying an additional 163,874 shares during the last quarter. Norges Bank bought a new stake in shares of Nutanix during the 4th quarter worth about $195,758,000. Pictet Asset Management Holding SA increased its holdings 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 acquiring an additional 2,108,269 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Nutanix by 4.6% in the 4th quarter. Federated Hermes Inc. now owns 2,000,729 shares of the technology company's stock valued at $122,551,000 after acquiring an additional 87,775 shares in the last quarter. 85.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the subject of a number of recent analyst reports. Barclays set a $94.00 target price on Nutanix and gave the stock an "overweight" rating in a research report on Thursday, February 27th. StockNews.com cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st. Oppenheimer lifted their price objective on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price objective on Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $87.85.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded down $0.24 during midday trading on Friday, reaching $61.63. 1,051,856 shares of the company's stock were exchanged, compared to its average volume of 2,512,801. The company's 50 day simple moving average is $68.81 and its two-hundred day simple moving average is $66.64. Nutanix, Inc. has a 12 month low of $43.35 and a 12 month high of $79.99. The firm has a market capitalization of $16.43 billion, a PE ratio of -176.09, a price-to-earnings-growth ratio of 11.80 and a beta of 0.84.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the transaction, the chief executive officer now owns 540,463 shares in the company, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the sale, the director now owns 3,050 shares in the company, valued at $232,288. This trade represents a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,610,592 shares of company stock worth $417,628,260 over the last quarter. Company insiders own 6.80% of the company's stock.

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.