Prudential PLC Boosts Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Prudential PLC lifted its position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,341 shares of the technology company's stock after purchasing an additional 7,142 shares during the quarter. Prudential PLC's holdings in Nutanix were worth $2,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTNX. Vanguard Group Inc. lifted its stake in shares of Nutanix by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock valued at $1,568,447,000 after purchasing an additional 146,854 shares during the last quarter. Geode Capital Management LLC boosted its stake in Nutanix by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after buying an additional 163,874 shares during the period. Norges Bank acquired a new stake in shares of Nutanix during the fourth quarter valued at about $195,758,000. Pictet Asset Management Holding SA raised its stake in shares of Nutanix by 6,785.3% in 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 acquiring an additional 2,108,269 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Nutanix by 13.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,558,817 shares of the technology company's stock worth $95,368,000 after acquiring an additional 186,889 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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Nutanix Price Performance

Shares of NASDAQ:NTNX traded down $2.02 during trading on Friday, hitting $60.02. 643,020 shares of the company were exchanged, compared to its average volume of 2,504,790. The firm's 50 day moving average price is $69.81 and its 200-day moving average price is $66.66. The stock has a market capitalization of $16.00 billion, a P/E ratio of -171.73, a PEG ratio of 11.80 and a beta of 0.84. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $79.99.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NTNX shares. 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. Needham & Company LLC upped their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Morgan Stanley raised their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Raymond James set a $83.00 price objective on Nutanix in a research report on Thursday, February 27th. Finally, Oppenheimer boosted their target price on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. One investment analyst has 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $87.85.

Insider Activity at Nutanix

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $76.16, for a total transaction of $533,120.00. Following the transaction, the director now directly owns 3,050 shares in the company, valued at approximately $232,288. This trade represents a 69.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Groen Max Pieter De sold 5,500,000 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 11,354,032 shares of the company's stock, valued at approximately $845,988,924.32. This trade represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,610,886 shares of company stock valued at $417,646,356 over the last ninety days. Insiders own 6.80% of the company's stock.

Nutanix 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.