Nutanix, Inc. (NASDAQ:NTNX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in Nutanix, Inc. (NASDAQ:NTNX) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,621,453 shares of the technology company’s stock after selling 423,280 shares during the quarter. Primecap Management Co. CA owned 1.35% of Nutanix worth $221,560,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC grew its position in Nutanix by 32.2% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 5,953 shares of the technology company’s stock worth $364,000 after buying an additional 1,450 shares during the last quarter. Cibc World Markets Corp acquired a new position in Nutanix in the fourth quarter worth approximately $698,000. Harbour Investments Inc. grew its position in Nutanix by 2,612.5% in 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 last quarter. Natixis Advisors LLC boosted its stake in Nutanix by 20.1% in the 4th quarter. Natixis Advisors LLC now owns 23,247 shares of the technology company’s stock worth $1,422,000 after purchasing an additional 3,888 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in Nutanix by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,933 shares of the technology company’s stock worth $1,220,000 after purchasing an additional 544 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

Insider Activity

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now directly owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,609,206 shares of company stock valued at $417,458,120. Insiders own 6.80% of the company’s stock.

Nutanix Price Performance

Nutanix stock opened at $71.11 on Tuesday. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of -203.17, a P/E/G ratio of 11.80 and a beta of 1.04. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The firm has a fifty day moving average price of $68.73 and a two-hundred day moving average price of $65.72.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Northland Capmk raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Piper Sandler lifted their target price on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. Finally, Oppenheimer upped their price objective on shares of Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a 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 stock. Based on data from MarketBeat, Nutanix presently has an average rating of “Buy” and a consensus target price of $87.79.

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.