Sumitomo Mitsui DS Asset Management Company Ltd Buys Shares of 25,236 Nutanix, Inc. (NASDAQ:NTNX)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,236 shares of the technology company's stock, valued at approximately $1,544,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Nutanix by 5,473.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,317 shares of the technology company's stock worth $29,325,000 after purchasing an additional 470,717 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Nutanix by 73.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,679 shares of the technology company's stock worth $104,000 after buying an additional 711 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in Nutanix during the 4th quarter worth approximately $201,000. E. Ohman J or Asset Management AB purchased a new stake in shares of Nutanix in the fourth quarter valued at approximately $716,000. Finally, abrdn plc purchased a new stake in shares of Nutanix in the fourth quarter valued at approximately $233,000. Institutional investors and hedge funds own 85.25% of the company's stock.

Nutanix Stock Performance

Shares of Nutanix stock traded down $0.34 during midday trading on Friday, reaching $70.47. 1,694,924 shares of the company's stock traded hands, compared to its average volume of 1,867,274. The company has a market cap of $18.88 billion, a price-to-earnings ratio of -201.34, a price-to-earnings-growth ratio of 11.60 and a beta of 1.17. The company's 50 day simple moving average is $65.71 and its 200 day simple moving average is $62.46. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $75.80.

Insider Buying and Selling

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the sale, the director now directly owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the sale, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,917 shares of company stock worth $12,114,781 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Nutanix from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. UBS Group initiated coverage on Nutanix in a research note on Thursday, December 12th. They issued a "buy" rating and a $81.00 price objective on the stock. StockNews.com upgraded Nutanix from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Needham & Company LLC increased their target price on Nutanix from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, Raymond James lowered their price target on Nutanix from $83.00 to $76.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $79.50.

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.