Primecap Management Co. CA Sells 423,280 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Primecap Management Co. CA lowered its stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,621,453 shares of the technology company's stock after selling 423,280 shares during the period. Primecap Management Co. CA owned about 1.35% of Nutanix worth $221,560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Larson Financial Group LLC boosted its position in Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after purchasing an additional 146 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company's stock valued at $230,000 after buying an additional 151 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Nutanix by 3.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after buying an additional 188 shares in the last quarter. Principal Securities Inc. increased its holdings in Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock worth $35,000 after buying an additional 199 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Nutanix by 3.4% during the third quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company's stock valued at $417,000 after acquiring an additional 233 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of the firm'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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Virginia Gambale sold 6,060 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the sale, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,609,206 shares of company stock worth $417,458,120 over the last 90 days. Corporate insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Northland Securities upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. Needham & Company LLC boosted their price target on Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Royal Bank of Canada boosted their target price on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. StockNews.com downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" 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. According to data from MarketBeat, Nutanix presently has a consensus rating of "Buy" and a consensus target price of $87.79.

Nutanix Stock Up 0.7 %

Nutanix stock traded up $0.54 during trading hours on Friday, hitting $73.04. The stock had a trading volume of 3,503,372 shares, compared to its average volume of 2,443,707. The company has a 50-day moving average of $69.30 and a two-hundred day moving average of $65.86. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The company has a market cap of $19.48 billion, a PE ratio of -208.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04.

Nutanix Company 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.