Skandinaviska Enskilda Banken AB publ Purchases New Position in Nutanix, Inc. (NASDAQ:NTNX)

Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 114,500 shares of the technology company's stock, valued at approximately $7,104,000.

Several other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC boosted its position in 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 acquiring an additional 281 shares during the period. Allworth Financial LP lifted its position in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of 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. Principal Securities Inc. grew its position in Nutanix by 52.4% during the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after purchasing an additional 199 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Nutanix during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Wall Street Analysts Forecast Growth

NTNX has been the subject of a number of research reports. Northland Capmk raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Raymond James set a $83.00 target price on Nutanix in a research note on Thursday, February 27th. Royal Bank of Canada upped their target price on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Piper Sandler lifted their price target on Nutanix from $83.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Northland Securities raised Nutanix from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nutanix has an average rating of "Buy" and a consensus target price of $87.79.

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Nutanix Price Performance

Shares of NASDAQ NTNX traded up $2.66 during trading hours on Wednesday, hitting $72.84. 2,017,931 shares of the company's stock were exchanged, compared to its average volume of 2,442,377. The company's 50-day moving average price is $68.89 and its 200-day moving average price is $65.77. Nutanix, Inc. has a 1-year low of $43.35 and a 1-year high of $79.99. The stock has a market capitalization of $19.42 billion, a price-to-earnings ratio of -208.11, a PEG ratio of 11.80 and a beta of 1.04.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 6,060 shares of the business's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares of the company's stock, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 95,852 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the transaction, the chief executive officer now owns 540,463 shares of the company's stock, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,609,206 shares of company stock valued at $417,458,120 in the last three months. Company 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.