SP Asset Management LLC Lowers Position in Nutanix, Inc. (NASDAQ:NTNX)

SP Asset Management LLC lowered its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,173 shares of the technology company's stock after selling 20,267 shares during the quarter. Nutanix accounts for 0.9% of SP Asset Management LLC's portfolio, making the stock its 26th largest position. SP Asset Management LLC owned about 0.07% of Nutanix worth $11,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NTNX. Larson Financial Group LLC lifted its stake in shares of Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock worth $30,000 after purchasing an additional 281 shares during the period. Allworth Financial LP increased its holdings in Nutanix by 123.1% during the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock valued at $31,000 after buying an additional 256 shares during the last quarter. Advisors Asset Management Inc. raised its position in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock worth $32,000 after acquiring an additional 321 shares during the period. Principal Securities Inc. boosted its stake in shares of Nutanix by 52.4% during the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock worth $35,000 after acquiring an additional 199 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Nutanix by 587.7% during 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 during the period. Institutional investors own 85.25% of the company's stock.

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Nutanix Price Performance

Shares of NTNX traded down $6.02 during mid-day trading on Monday, reaching $64.39. 4,839,255 shares of the company's stock traded hands, compared to its average volume of 2,440,803. Nutanix, Inc. has a 12 month low of $43.35 and a 12 month high of $79.99. The stock has a market cap of $17.25 billion, a P/E ratio of -183.97, a P/E/G ratio of 11.80 and a beta of 1.04. The stock's 50-day moving average is $68.06 and its two-hundred day moving average is $65.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James set a $83.00 target price on Nutanix in a report on Thursday, February 27th. Barclays set a $94.00 price objective on Nutanix and gave the stock an "overweight" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. StockNews.com cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 21st. Finally, Needham & Company LLC upped their price target on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $87.79.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the transaction, the director now directly owns 45,330 shares in the company, valued at $2,934,210.90. This represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the sale, the director now directly owns 11,354,032 shares of the company's stock, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,684,917 shares of company stock worth $422,452,901 over the last quarter. Company insiders own 6.80% of the company's stock.

About Nutanix

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.