Advisory Services Network LLC Trims Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Advisory Services Network LLC cut its position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 38.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,114 shares of the technology company's stock after selling 7,076 shares during the quarter. Advisory Services Network LLC's holdings in Nutanix were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTNX. Abacus FCF Advisors LLC boosted its position in Nutanix by 49.7% in the 4th quarter. Abacus FCF Advisors LLC now owns 45,207 shares of the technology company's stock valued at $2,766,000 after buying an additional 15,013 shares during the period. Renaissance Technologies LLC raised its stake in shares of Nutanix by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after acquiring an additional 268,400 shares in the last quarter. Legal & General Group Plc boosted its holdings in Nutanix by 60.4% in the fourth quarter. Legal & General Group Plc now owns 949,226 shares of the technology company's stock valued at $58,074,000 after purchasing an additional 357,520 shares during the period. Polymer Capital Management US LLC acquired a new position in Nutanix during the 4th quarter worth $281,000. Finally, Benchmark Investment Advisors LLC purchased a new stake in Nutanix during the 4th quarter worth about $380,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the subject of several recent research reports. Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. Royal Bank of Canada lifted their price target on shares of Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Oppenheimer boosted their price target on shares of Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. StockNews.com lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st. Finally, Piper Sandler lowered their target price on shares of Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $87.85.

Nutanix Stock Down 0.4 %

NTNX traded down $0.24 on Friday, hitting $61.63. 1,051,856 shares of the company traded hands, compared to its average volume of 2,512,801. The company has a 50 day moving average of $68.81 and a 200-day moving average of $66.64. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $79.99. The stock has a market capitalization of $16.43 billion, a PE ratio of -176.09, a PEG ratio of 11.80 and a beta of 0.84.

Insider Activity

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the transaction, the director now owns 3,050 shares in the company, valued at $232,288. This trade represents a 69.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction dated 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 sale, the chief executive officer now 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 a total of 5,610,592 shares of company stock valued at $417,628,260 over the last quarter. Corporate insiders own 6.80% of the company's stock.

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.