Summit Global Investments Reduces Position in Nutanix, Inc. (NASDAQ:NTNX)

Summit Global Investments cut its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 2.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,016 shares of the technology company’s stock after selling 257 shares during the quarter. Summit Global Investments’ holdings in Nutanix were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Nutanix by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company’s stock valued at $88,271,000 after buying an additional 33,980 shares during the last quarter. Atreides Management LP acquired a new position in Nutanix during the third quarter valued at $8,290,000. CIBC Asset Management Inc lifted its position in Nutanix by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after purchasing an additional 375 shares during the period. Two Sigma Advisers LP lifted its position in Nutanix by 32.8% during the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after purchasing an additional 695,567 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Nutanix by 1,555.9% during the fourth quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company’s stock valued at $4,540,000 after purchasing an additional 69,722 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the transaction, the director now owns 3,050 shares of the company’s stock, valued at approximately $232,288. This trade represents a 69.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,603,146 shares of company stock worth $417,065,856 in the last 90 days. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NTNX. Morgan Stanley boosted their target price 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. Oppenheimer boosted their target price on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Northland Capmk upgraded shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada upped their price objective on shares of Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nutanix currently has a consensus rating of “Buy” and a consensus price target of $87.79.

Nutanix Stock Up 0.7 %

NTNX opened at $73.04 on Monday. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $79.99. The company has a 50-day moving average price of $69.52 and a 200 day moving average price of $65.98. The company has a market cap of $19.48 billion, a PE ratio of -208.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04.

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.