Ameriprise Financial Inc. Sells 4,464,437 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Ameriprise Financial Inc. lowered its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 84.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 846,809 shares of the technology company's stock after selling 4,464,437 shares during the quarter. Ameriprise Financial Inc. owned about 0.32% of Nutanix worth $51,808,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Larson Financial Group LLC lifted its stake in 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 in the last quarter. Avantax Advisory Services Inc. lifted its stake in Nutanix by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after buying an additional 188 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Nutanix by 5.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company's stock valued at $220,000 after buying an additional 196 shares in the last quarter. Principal Securities Inc. lifted its stake 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 buying an additional 199 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Nutanix by 5.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,602 shares of the technology company's stock worth $282,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Oppenheimer increased their price target on shares of Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Piper Sandler reduced their price target on shares of Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st. Barclays set a $94.00 price target on shares of Nutanix and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company increased their price objective on Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $87.85.

Nutanix Stock Up 7.2%

NTNX stock traded up $5.55 during midday trading on Tuesday, hitting $82.40. 7,246,782 shares of the company traded hands, compared to its average volume of 2,549,753. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $83.65. The business has a 50 day simple moving average of $67.62 and a 200-day simple moving average of $67.52. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of -235.43, a price-to-earnings-growth ratio of 11.80 and a beta of 0.70.

Insider Transactions at Nutanix

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the sale, the director now owns 3,050 shares in the company, valued at approximately $232,288. This trade represents a 69.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares in the company, valued at approximately $845,988,924.32. The trade was a 32.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,514,740 shares of company stock worth $410,918,620. Insiders own 6.80% of the company's stock.

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.