Wellington Management Group LLP Cuts Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Wellington Management Group LLP decreased its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 16.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,116 shares of the technology company's stock after selling 5,289 shares during the period. Wellington Management Group LLP's holdings in Nutanix were worth $1,598,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Harbour Investments Inc. lifted its holdings in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock worth $27,000 after buying an additional 418 shares during the period. Allworth Financial LP boosted its position in Nutanix by 123.1% during the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock valued at $31,000 after purchasing an additional 256 shares in the last quarter. Principal Securities Inc. grew its stake in Nutanix by 52.4% in 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 during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Nutanix in the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC lifted its position in shares of Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Stock Performance

Shares of Nutanix stock traded down $0.24 during trading on Friday, hitting $61.63. 1,051,856 shares of the company's stock were exchanged, compared to its average volume of 2,515,763. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of -176.09, a PEG ratio of 11.80 and a beta of 0.84. The business has a 50-day simple moving average of $68.62 and a 200-day simple moving average of $66.68. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $79.99.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the transaction, the chief executive officer now directly owns 540,463 shares in the company, valued at $37,832,410. The trade was a 15.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Groen Max Pieter De sold 5,500,000 shares of the firm'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 sale, the director now owns 11,354,032 shares in the company, valued at approximately $845,988,924.32. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,610,592 shares of company stock valued at $417,628,260. Company insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st. UBS Group boosted their target price on Nutanix from $81.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Raymond James set a $83.00 price target on Nutanix in a research note on Thursday, February 27th. Piper Sandler cut their price objective on shares of Nutanix from $88.00 to $76.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Oppenheimer lifted their target price on shares of 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $87.85.

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.