Envestnet Asset Management Inc. Boosts Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Envestnet Asset Management Inc. lifted its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 22.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 41,686 shares of the technology company's stock after acquiring an additional 7,728 shares during the period. Envestnet Asset Management Inc.'s holdings in Nutanix were worth $2,550,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Nutanix in the 4th quarter valued at about $195,758,000. Pictet Asset Management Holding SA grew its position in shares of Nutanix by 6,785.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock worth $130,885,000 after buying an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $91,639,000. Raymond James Financial Inc. acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $86,824,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of 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 worth $29,325,000 after buying an additional 470,717 shares during the period. Institutional investors and hedge funds own 85.25% of the company's stock.

Nutanix Price Performance

NTNX traded up $0.73 during trading on Monday, hitting $67.89. 1,379,152 shares of the stock traded hands, compared to its average volume of 2,519,237. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $79.99. The company has a market cap of $18.10 billion, a price-to-earnings ratio of -193.97, a PEG ratio of 11.80 and a beta of 0.84. The business has a 50 day moving average price of $67.74 and a 200 day moving average price of $66.84.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTNX. Raymond James set a $83.00 price target on shares of Nutanix in a research report on Thursday, February 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an "overweight" rating in a research note on Thursday, February 27th. UBS Group lifted their price objective on shares of Nutanix from $81.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Northland Capmk raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Northland Securities raised shares of Nutanix from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nutanix currently has a consensus rating of "Buy" and an average price target of $87.85.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the sale, the chief executive officer now owns 540,463 shares in the company, valued at $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of Nutanix stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the transaction, the director now directly owns 3,050 shares in the company, valued at approximately $232,288. The trade was a 69.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,610,592 shares of company stock worth $417,628,260 over the last ninety days. 6.80% of the stock is 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.