Nordea Investment Management AB Sells 518,544 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Nordea Investment Management AB cut its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,295,203 shares of the technology company's stock after selling 518,544 shares during the quarter. Nordea Investment Management AB owned 1.23% of Nutanix worth $202,029,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Everence Capital Management Inc. acquired a new stake in shares of Nutanix in the 4th quarter valued at about $451,000. GAMMA Investing LLC raised its position in Nutanix by 24.4% in the 4th quarter. GAMMA Investing LLC now owns 1,691 shares of the technology company's stock valued at $103,000 after buying an additional 332 shares during the last quarter. Versant Capital Management Inc lifted its stake in Nutanix by 587.7% in the 4th quarter. Versant Capital Management Inc now owns 729 shares of the technology company's stock valued at $45,000 after acquiring an additional 623 shares in the last quarter. Tidal Investments LLC boosted its position in Nutanix by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 22,297 shares of the technology company's stock worth $1,321,000 after acquiring an additional 862 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Nutanix during the 3rd quarter worth approximately $111,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Stock Performance

Shares of NTNX traded down $1.94 during mid-day trading on Tuesday, reaching $62.17. 1,716,287 shares of the company were exchanged, compared to its average volume of 1,770,172. The business has a 50 day simple moving average of $66.42 and a two-hundred day simple moving average of $60.06. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $75.80. The stock has a market capitalization of $16.66 billion, a PE ratio of -177.63, a PEG ratio of 10.34 and a beta of 1.16.

Wall Street Analysts Forecast Growth

NTNX has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on Nutanix from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Northland Securities restated a "market perform" rating and set a $77.00 target price (up from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Oppenheimer initiated coverage on shares of Nutanix in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $80.00 price objective for the company. UBS Group started coverage on Nutanix in a research report on Thursday, December 12th. They set a "buy" rating and a $81.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.47.

Insider Activity

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 649,034 shares of the company's stock, valued at approximately $42,738,888.90. This represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares of the company's stock, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,771 shares of company stock valued at $5,387,045. 6.80% of the stock is currently owned by insiders.

Nutanix 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.