Concentric Capital Strategies LP Sells 163,051 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Concentric Capital Strategies LP reduced its stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 80.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,146 shares of the technology company's stock after selling 163,051 shares during the quarter. Concentric Capital Strategies LP's holdings in Nutanix were worth $2,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbour Investments Inc. grew its stake in shares of 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 purchasing an additional 418 shares during the last quarter. Allworth Financial LP grew its stake in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock worth $35,000 after purchasing an additional 199 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Nutanix during the fourth quarter valued at about $40,000. Finally, Larson Financial Group LLC increased 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 period. 85.25% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several analysts have commented on NTNX shares. Needham & Company LLC raised their price objective on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an "overweight" rating in a report on Thursday, February 27th. Raymond James set a $83.00 price objective on shares of Nutanix in a report on Thursday, February 27th. Wells Fargo & Company raised their price objective on shares of Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, Northland Securities upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $87.85.

Nutanix Stock Up 6.3%

Shares of NTNX stock traded up $4.84 during trading hours on Tuesday, hitting $81.69. 3,128,185 shares of the company's stock traded hands, compared to its average volume of 2,529,436. The stock's fifty day simple moving average is $67.62 and its two-hundred day simple moving average is $67.52. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $82.31. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of -233.40, a PEG ratio of 11.80 and a beta of 0.70.

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.