Paloma Partners Management Co Sells 565,059 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Paloma Partners Management Co trimmed its holdings in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 97.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,791 shares of the technology company's stock after selling 565,059 shares during the period. Paloma Partners Management Co's holdings in Nutanix were worth $936,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Nutanix during the 2nd quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in shares of Nutanix in the third quarter valued at about $27,000. Larson Financial Group LLC lifted its stake in shares of Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock worth $30,000 after buying an additional 281 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Nutanix during the 2nd quarter worth about $32,000. Finally, Advisors Asset Management Inc. grew its stake in Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock valued at $32,000 after buying an additional 321 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Nutanix from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 28th. Bank of America boosted their price target on Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Raymond James increased their price objective on Nutanix from $76.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Piper Sandler boosted their target price on shares of Nutanix from $77.00 to $83.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Finally, Barclays raised their price target on shares of Nutanix from $75.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nutanix presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.86.

Nutanix Stock Down 0.2 %

Shares of NTNX stock traded down $0.14 during trading hours on Tuesday, reaching $66.01. The company's stock had a trading volume of 2,990,609 shares, compared to its average volume of 2,586,091. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $75.80. The firm's 50 day simple moving average is $65.09 and its 200-day simple moving average is $59.28. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of -188.60, a PEG ratio of 10.40 and a beta of 1.13.

Insider Activity at Nutanix

In related news, COO David Sangster sold 11,950 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company's stock, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares of the company's stock, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.