Cerity Partners LLC Sells 7,554 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Cerity Partners LLC cut its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,418 shares of the technology company's stock after selling 7,554 shares during the period. Cerity Partners LLC's holdings in Nutanix were worth $2,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NTNX. Charles Schwab Investment Management Inc. boosted its stake in Nutanix by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company's stock valued at $88,271,000 after purchasing an additional 33,980 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Nutanix by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company's stock valued at $453,000 after buying an additional 375 shares during the period. Pacer Advisors Inc. boosted its stake in Nutanix by 1,555.9% during the fourth quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company's stock valued at $4,540,000 after buying an additional 69,722 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Nutanix during the fourth quarter worth about $299,000. Finally, Sanctuary Advisors LLC grew its holdings in Nutanix by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company's stock worth $593,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 85.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NTNX shares. Oppenheimer raised their price objective 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. Northland Capmk upgraded shares of Nutanix from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 27th. Wells Fargo & Company upped their price target on Nutanix from $75.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. 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 note on Tuesday, April 8th. Finally, Raymond James set a $83.00 target price on Nutanix in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nutanix currently has a consensus rating of "Buy" and an average target price of $87.85.

Insider Activity

In related news, CEO Rajiv Ramaswami sold 7,740 shares of the business's stock in a transaction that occurred on 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 owns 558,366 shares of the company's stock, valued at approximately $41,877,450. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $533,120.00. Following the completion of the transaction, the director now owns 3,050 shares in the company, valued at $232,288. This represents a 69.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,592 shares of company stock worth $417,628,260 in the last ninety days. Corporate insiders own 6.80% of the company's stock.

Nutanix Price Performance

NTNX traded down $0.24 on Friday, reaching $61.63. 1,051,856 shares of the company traded hands, compared to its average volume of 2,515,763. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $79.99. The company has a market cap of $16.43 billion, a price-to-earnings ratio of -176.09, a PEG ratio of 11.80 and a beta of 0.84. The stock's 50 day moving average price is $68.81 and its 200-day moving average price is $66.64.

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.