Stanley Laman Group Ltd. Purchases Shares of 57,905 Nutanix, Inc. (NASDAQ:NTNX)

Stanley Laman Group Ltd. purchased a new position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 57,905 shares of the technology company's stock, valued at approximately $4,042,000.

Other hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock valued at $27,000 after purchasing an additional 418 shares in the last quarter. Colonial Trust Co SC purchased a new stake in shares of Nutanix during the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Nutanix by 78.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock valued at $30,000 after buying an additional 191 shares during the period. Allworth Financial LP lifted its holdings in shares of Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company's stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in Nutanix by 52.4% during the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after acquiring an additional 199 shares during the period. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Susquehanna boosted their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Oppenheimer boosted their price objective 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. Barclays set a $94.00 target price on Nutanix and gave the company an "overweight" rating in a research report on Thursday, February 27th. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Finally, Royal Bank of Canada upped their price objective on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Nutanix has a consensus rating of "Buy" and an average price target of $90.38.

Nutanix Price Performance

Shares of NTNX stock traded down $1.47 during trading hours on Friday, reaching $72.13. 2,263,179 shares of the company's stock were exchanged, compared to its average volume of 2,533,132. The company has a market cap of $19.23 billion, a P/E ratio of -206.09, a price-to-earnings-growth ratio of 11.80 and a beta of 0.69. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $83.36. The company's 50 day moving average is $71.83 and its two-hundred day moving average is $69.16.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the sale, the director now directly owns 38,330 shares in the company, valued at $2,989,740. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 7,740 shares of Nutanix stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $75.00, for a total value of $580,500.00. Following the sale, the chief executive officer now directly owns 558,366 shares in the company, valued at approximately $41,877,450. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,556,264 shares of company stock valued at $426,904,673. 6.80% of the stock is currently owned by company insiders.

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.