Abacus FCF Advisors LLC Purchases 107,583 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Abacus FCF Advisors LLC boosted its position in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 238.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 152,790 shares of the technology company's stock after buying an additional 107,583 shares during the quarter. Nutanix makes up about 1.7% of Abacus FCF Advisors LLC's holdings, making the stock its 25th biggest holding. Abacus FCF Advisors LLC owned about 0.06% of Nutanix worth $10,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTNX. Vanguard Group Inc. raised its position in Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock valued at $1,568,447,000 after purchasing an additional 146,854 shares during the last quarter. Renaissance Technologies LLC raised its position in Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after purchasing an additional 268,400 shares during the last quarter. Geode Capital Management LLC raised its position in Nutanix by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock valued at $263,275,000 after purchasing an additional 163,874 shares during the last quarter. First Trust Advisors LP raised its position in Nutanix by 9.3% during the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock valued at $214,055,000 after purchasing an additional 297,754 shares during the last quarter. Finally, Norges Bank bought a new position in Nutanix during the 4th quarter valued at approximately $195,758,000. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTNX has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of Nutanix in a report on Thursday, May 29th. Susquehanna increased their target price on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Thursday, May 29th. Northland Securities raised Nutanix from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $77.00 to $97.00 in a research report on Thursday, February 27th. Oppenheimer increased their target price on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, Piper Sandler reissued an "overweight" rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Nutanix currently has an average rating of "Buy" and an average target price of $90.38.

Insider Buying and Selling at Nutanix

In other news, Director Groen Max Pieter De sold 5,480,467 shares of Nutanix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the sale, the director now directly owns 5,480,468 shares in the company, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of the sale, the director now owns 38,330 shares of the company's stock, valued at $2,989,740. This represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,556,264 shares of company stock worth $426,904,673. 6.80% of the stock is owned by corporate insiders.

Nutanix Price Performance

NTNX stock traded down $1.47 on Friday, reaching $72.13. 2,263,179 shares of the company traded hands, 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 one year low of $43.35 and a one year high of $83.36. The firm has a fifty day simple moving average of $71.83 and a 200-day simple moving average of $69.16.

Nutanix 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.