Convergence Investment Partners LLC lifted its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 70.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,732 shares of the technology company's stock after purchasing an additional 18,896 shares during the period. Convergence Investment Partners LLC's holdings in Nutanix were worth $2,798,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of NTNX. Larson Financial Group LLC grew its holdings in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock valued at $30,000 after buying an additional 281 shares during the last quarter. Allworth Financial LP boosted its stake in shares of 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 acquiring an additional 256 shares during the last quarter. Advisors Asset Management Inc. increased its position 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 purchasing an additional 321 shares in the last quarter. Principal Securities Inc. raised its stake in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after purchasing an additional 199 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Nutanix by 587.7% in the 4th quarter. Versant Capital Management Inc now owns 729 shares of the technology company's stock valued at $45,000 after purchasing an additional 623 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 in the company, valued at $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, the director now owns 45,330 shares of the company's stock, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,917 shares of company stock valued at $12,114,781. Company insiders own 6.80% of the company's stock.
Nutanix Stock Performance
NTNX traded down $2.35 on Friday, reaching $69.74. 1,687,100 shares of the company's stock were exchanged, compared to its average volume of 1,807,464. The company has a market cap of $18.69 billion, a price-to-earnings ratio of -199.26, a PEG ratio of 11.80 and a beta of 1.17. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $75.80. The company's 50 day moving average is $66.24 and its 200-day moving average is $63.23.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on NTNX. Northland Securities reissued a "market perform" rating and issued a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Oppenheimer assumed coverage on shares of Nutanix in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $80.00 target price for the company. Needham & Company LLC increased their price target on Nutanix from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Piper Sandler lifted their price objective on Nutanix from $77.00 to $83.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Finally, Raymond James reduced their target price on Nutanix from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.50.
Read Our Latest Report on Nutanix
Nutanix Profile
(
Free Report)
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.
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