Korea Investment CORP Acquires New Stake in Nutanix, Inc. (NASDAQ:NTNX)

Korea Investment CORP acquired a new position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 224,478 shares of the technology company's stock, valued at approximately $13,734,000. Korea Investment CORP owned 0.08% of Nutanix as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of NTNX. Harbour Investments Inc. increased its holdings in Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock worth $27,000 after acquiring an additional 418 shares in the last quarter. Allworth Financial LP grew its position in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock valued at $31,000 after purchasing an additional 256 shares during the period. Larson Financial Group LLC increased its stake in shares of Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock worth $32,000 after purchasing an additional 321 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after buying an additional 199 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Nutanix

In related news, CEO Rajiv Ramaswami sold 7,740 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $75.00, for a total value of $580,500.00. Following the sale, the chief executive officer now directly owns 558,366 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total transaction of $533,120.00. Following the completion of the transaction, the director now directly owns 3,050 shares in the company, valued at $232,288. The trade was a 69.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,610,886 shares of company stock worth $417,646,356 over the last quarter. 6.80% of the stock is currently owned by company insiders.

Nutanix Price Performance

NTNX traded down $6.28 during trading hours on Friday, reaching $58.50. The company's stock had a trading volume of 4,450,783 shares, compared to its average volume of 2,490,099. The stock has a market cap of $15.60 billion, a PE ratio of -167.14, a P/E/G ratio of 11.80 and a beta of 1.04. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The business's 50-day moving average is $70.53 and its 200-day moving average is $66.58.

Wall Street Analysts Forecast Growth

Several research firms have commented on NTNX. Raymond James set a $83.00 price objective on Nutanix in a research note on Thursday, February 27th. UBS Group boosted their price target on Nutanix from $81.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Oppenheimer upped their target price on shares of Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $87.79.

About Nutanix

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.