Norges Bank Takes $195.76 Million Position in Nutanix, Inc. (NASDAQ:NTNX)

Norges Bank purchased a new position in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,199,712 shares of the technology company's stock, valued at approximately $195,758,000. Norges Bank owned 1.19% of Nutanix as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in 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 buying an additional 321 shares during the period. Cerity Partners LLC raised its position in shares of Nutanix by 159.9% during the third quarter. Cerity Partners LLC now owns 43,972 shares of the technology company's stock worth $2,605,000 after acquiring an additional 27,053 shares during the last quarter. Larson Financial Group LLC raised its position 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 acquiring an additional 281 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Nutanix by 150.6% in the third quarter. The Manufacturers Life Insurance Company now owns 45,765 shares of the technology company's stock worth $2,712,000 after acquiring an additional 27,502 shares during the period. Finally, Freedom Investment Management Inc. boosted its holdings in Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company's stock valued at $230,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 85.25% of the company's stock.

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Insider Transactions at Nutanix

In other Nutanix news, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction dated 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 transaction, the director now owns 11,354,032 shares in the company, valued at approximately $845,988,924.32. The trade was a 32.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, the chief executive officer now directly owns 540,463 shares of the company's stock, valued at approximately $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,610,886 shares of company stock valued at $417,646,356 over the last ninety days. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st. Oppenheimer lifted their target price on shares of Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Piper Sandler upped their price target on shares of Nutanix from $83.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Wells Fargo & Company increased their price target on Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC boosted their price objective on Nutanix from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nutanix currently has an average rating of "Buy" and an average target price of $87.79.

Nutanix Stock Down 9.7 %

NASDAQ:NTNX traded down $6.28 on Friday, hitting $58.50. The stock had a trading volume of 4,450,783 shares, compared to its average volume of 2,490,099. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $79.99. The business's fifty day moving average is $70.53 and its 200 day moving average is $66.58. The company 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 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.