Quantinno Capital Management LP Reduces Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Quantinno Capital Management LP decreased its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 126,012 shares of the technology company's stock after selling 16,469 shares during the quarter. Quantinno Capital Management LP's holdings in Nutanix were worth $7,466,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in Nutanix in the third quarter worth approximately $27,000. Larson Financial Group LLC grew its stake in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Nutanix in the second quarter worth approximately $32,000. Advisors Asset Management Inc. grew its stake in Nutanix by 150.7% in 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 in the last quarter. Finally, GAMMA Investing LLC boosted its position in Nutanix by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company's stock valued at $53,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Insider Activity

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

Nutanix Stock Down 0.7 %

Shares of NASDAQ:NTNX traded down $0.48 during trading on Friday, reaching $67.77. 2,071,003 shares of the company's stock traded hands, compared to its average volume of 3,421,119. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $75.80. The firm has a market cap of $17.97 billion, a PE ratio of -193.63, a P/E/G ratio of 11.20 and a beta of 1.13. The company has a 50-day simple moving average of $65.54 and a 200-day simple moving average of $59.27.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTNX. Oppenheimer began coverage on Nutanix in a research report on Wednesday, November 13th. They set an "outperform" rating and a $80.00 target price on the stock. Bank of America increased their target price on Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Needham & Company LLC increased their price objective on Nutanix from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, StockNews.com upgraded Nutanix from a "buy" rating to a "strong-buy" rating in a report on Thursday, November 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $78.86.

About Nutanix

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.