Franklin Resources Inc. Cuts Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Franklin Resources Inc. trimmed its position in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 97.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,734 shares of the technology company's stock after selling 7,199,761 shares during the quarter. Franklin Resources Inc. owned 0.07% of Nutanix worth $11,730,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Nutanix during the 4th quarter valued at $195,758,000. Pictet Asset Management Holding SA increased its position in shares of Nutanix by 6,785.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock worth $130,885,000 after acquiring an additional 2,108,269 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Nutanix in the 4th quarter worth about $91,639,000. Raymond James Financial Inc. bought a new position in Nutanix in the 4th quarter valued at about $86,824,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Nutanix by 5,473.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,317 shares of the technology company's stock valued at $29,325,000 after purchasing an additional 470,717 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Trading Up 3.7 %

Shares of NTNX stock traded up $2.18 on Monday, hitting $61.48. 368,607 shares of the stock were exchanged, compared to its average volume of 2,504,759. The firm's 50 day moving average is $69.57 and its two-hundred day moving average is $66.68. Nutanix, Inc. has a one year low of $43.35 and a one year high of $79.99. The firm has a market capitalization of $16.39 billion, a PE ratio of -175.64, a P/E/G ratio of 11.80 and a beta of 0.84.

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Insider Buying and Selling at Nutanix

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 of the company's stock, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,592 shares of company stock valued at $417,628,260 over the last three months. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays set a $94.00 target price on Nutanix and gave the company an "overweight" rating in a report on Thursday, February 27th. Northland Capmk raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC upped their price objective on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Raymond James set a $83.00 target price on Nutanix in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $87.85.

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.