Pier 88 Investment Partners LLC Buys New Shares in Nutanix, Inc. (NASDAQ:NTNX)

Pier 88 Investment Partners LLC acquired a new stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 7,750 shares of the technology company's stock, valued at approximately $474,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Nutanix during the 4th quarter worth about $195,758,000. Pictet Asset Management Holding SA grew its position in shares of Nutanix by 6,785.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after purchasing an additional 2,108,269 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Nutanix during the fourth quarter worth about $91,639,000. Raymond James Financial Inc. purchased a new position in shares of Nutanix during the fourth quarter worth about $86,824,000. Finally, Two Sigma Advisers LP increased its position in shares of Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company's stock worth $166,730,000 after purchasing an additional 695,567 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Barclays set a $94.00 price target on Nutanix and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Oppenheimer increased their price objective on Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on shares of Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, UBS Group increased their target price on Nutanix from $81.00 to $91.00 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nutanix presently has a consensus rating of "Buy" and an average price target of $87.79.

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Nutanix Stock Performance

NTNX stock traded down $5.90 during trading on Friday, hitting $58.88. 2,278,433 shares of the company's stock traded hands, compared to its average volume of 2,411,944. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $79.99. The business has a fifty day simple moving average of $70.65 and a 200 day simple moving average of $66.58. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of -167.87, a P/E/G ratio of 11.80 and a beta of 1.04.

Insider Activity

In other news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the sale, the chief executive officer now directly owns 540,463 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of Nutanix 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 sale, the director now owns 3,050 shares of the company's stock, valued at $232,288. The trade was a 69.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,610,886 shares of company stock valued at $417,646,356. 6.80% of the stock is currently owned by company insiders.

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.