Brighton Jones LLC Makes New $252,000 Investment in Nutanix (NASDAQ:NTNX)

Brighton Jones LLC acquired a new position in Nutanix (NASDAQ:NTNX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,605 shares of the technology company's stock, valued at approximately $252,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Nutanix during the 4th quarter worth approximately $195,758,000. Pictet Asset Management Holding SA lifted its position in shares of Nutanix by 6,785.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock worth $130,885,000 after buying an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of Nutanix during the 4th quarter worth approximately $91,639,000. Contour Asset Management LLC bought a new position in shares of Nutanix during the 4th quarter worth approximately $87,318,000. Finally, Raymond James Financial Inc. bought a new position in shares of Nutanix during the 4th quarter worth approximately $86,824,000. Institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Shares of NASDAQ NTNX traded down $0.83 during midday trading on Friday, hitting $72.76. The stock had a trading volume of 3,000,607 shares, compared to its average volume of 2,540,028. The company's 50-day simple moving average is $73.20 and its 200 day simple moving average is $69.41. The firm has a market cap of $19.51 billion, a P/E ratio of -259.86, a price-to-earnings-growth ratio of 6.61 and a beta of 0.69. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $83.36.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NTNX shares. JPMorgan Chase & Co. raised their target price on Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Royal Bank Of Canada raised their target price on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Piper Sandler restated an "overweight" rating and set a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Oppenheimer raised their price target on Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, Northland Capmk raised Nutanix from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 27th. 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $90.38.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 2,100 shares of Nutanix stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the sale, the chief financial officer now directly owns 209,070 shares of the company's stock, valued at approximately $15,205,661.10. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 7,740 shares of Nutanix stock in a transaction on Monday, March 24th. The stock was 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 of the company's stock, valued at approximately $41,877,450. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,558,364 shares of company stock valued at $427,057,406. Company 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.