Inceptionr LLC Sells 7,596 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Inceptionr LLC lessened its stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 58.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,331 shares of the technology company's stock after selling 7,596 shares during the quarter. Inceptionr LLC's holdings in Nutanix were worth $326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in Nutanix by 8.9% in the 3rd quarter. QRG Capital Management Inc. now owns 10,482 shares of the technology company's stock worth $621,000 after acquiring an additional 859 shares during the period. Summit Global Investments acquired a new position in shares of Nutanix during the third quarter worth $727,000. CWA Asset Management Group LLC acquired a new position in shares of Nutanix during the third quarter worth $1,055,000. Atria Investments Inc boosted its stake in shares of Nutanix by 29.3% in the third quarter. Atria Investments Inc now owns 5,058 shares of the technology company's stock valued at $300,000 after purchasing an additional 1,147 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in Nutanix by 63.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 23,720 shares of the technology company's stock valued at $1,405,000 after purchasing an additional 9,220 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Insider Activity

In other news, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the sale, the director now directly owns 11,354,032 shares of the company's stock, valued at $845,988,924.32. This represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,684,917 shares of company stock worth $422,452,901. 6.80% of the stock is owned by corporate insiders.

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Nutanix Price Performance

NASDAQ NTNX traded down $1.05 on Thursday, hitting $66.72. 1,930,276 shares of the stock were exchanged, compared to its average volume of 2,449,498. The company's 50-day moving average price is $68.35 and its two-hundred day moving average price is $65.36. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $79.99. The company has a market capitalization of $17.88 billion, a price-to-earnings ratio of -190.63, a P/E/G ratio of 11.80 and a beta of 1.04.

Wall Street Analyst Weigh In

Several research firms have recently commented on NTNX. UBS Group increased their target price on Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Raymond James set a $83.00 price objective on shares of Nutanix in a report on Thursday, February 27th. StockNews.com cut Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 21st. Royal Bank of Canada lifted their target price on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, Piper Sandler upped their price target on Nutanix from $83.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nutanix currently has an average rating of "Buy" and an average target price of $87.79.

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.