Pictet Asset Management Holding SA Boosts Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Pictet Asset Management Holding SA lifted its holdings in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 6,785.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,139,340 shares of the technology company's stock after acquiring an additional 2,108,269 shares during the period. Pictet Asset Management Holding SA owned approximately 0.80% of Nutanix worth $130,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTNX. Advisors Asset Management Inc. grew its stake in Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock worth $32,000 after purchasing an additional 321 shares during the period. Citigroup Inc. grew its position in shares of Nutanix by 22.8% during the 3rd quarter. Citigroup Inc. now owns 155,129 shares of the technology company's stock worth $9,191,000 after buying an additional 28,853 shares during the period. Cerity Partners LLC increased its stake in shares of Nutanix by 159.9% in the 3rd quarter. Cerity Partners LLC now owns 43,972 shares of the technology company's stock valued at $2,605,000 after acquiring an additional 27,053 shares in the last quarter. Larson Financial Group LLC boosted its stake in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock worth $30,000 after acquiring an additional 281 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Nutanix by 296.4% in the third quarter. Daiwa Securities Group Inc. now owns 17,840 shares of the technology company's stock worth $1,057,000 after purchasing an additional 13,340 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

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Nutanix Stock Performance

NASDAQ:NTNX traded up $1.50 during trading on Wednesday, reaching $71.30. The company's stock had a trading volume of 584,191 shares, compared to its average volume of 2,475,504. Nutanix, Inc. has a 12 month low of $43.35 and a 12 month high of $79.99. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of -203.72, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The firm has a 50 day moving average of $70.56 and a 200-day moving average of $66.56.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTNX. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an "overweight" rating in a report on Thursday, February 27th. Royal Bank of Canada increased their price target on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a report 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 report on Thursday, February 27th. Wells Fargo & Company increased their target price on Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, UBS Group lifted their price target on shares of Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $87.79.

Insider Buying and Selling

In related news, 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 value of $409,805,000.00. Following the sale, the director now owns 11,354,032 shares of the company's stock, valued at approximately $845,988,924.32. The trade was a 32.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the transaction, the chief executive officer now directly 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. In the last ninety days, insiders have sold 5,610,886 shares of company stock valued at $417,646,356. 6.80% of the stock is owned by insiders.

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.