Cache Advisors LLC Makes New Investment in Nutanix, Inc. (NASDAQ:NTNX)

Cache Advisors LLC acquired a new position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,500 shares of the technology company's stock, valued at approximately $2,172,000. Nutanix makes up about 0.8% of Cache Advisors LLC's investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTNX. Norges Bank bought a new position in Nutanix in the fourth quarter worth approximately $195,758,000. Pictet Asset Management Holding SA lifted its holdings in Nutanix by 6,785.3% during the fourth 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 purchased a new stake in Nutanix during the fourth quarter worth $91,639,000. Contour Asset Management LLC purchased a new stake in Nutanix during the fourth quarter worth $87,318,000. Finally, Raymond James Financial Inc. purchased a new stake in Nutanix during the fourth quarter worth $86,824,000. Institutional investors own 85.25% of the company's stock.

Nutanix Price Performance

Nutanix stock traded down $3.36 during midday trading on Thursday, reaching $75.51. The company had a trading volume of 4,608,965 shares, compared to its average volume of 2,588,983. The company has a market capitalization of $20.14 billion, a P/E ratio of -216.52, a P/E/G ratio of 11.80 and a beta of 0.70. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $83.36. The firm's fifty day simple moving average is $70.28 and its 200-day simple moving average is $68.77.

Insider Activity at Nutanix

In other Nutanix news, Director Groen Max Pieter De sold 5,500,000 shares of the firm'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 transaction, the director now directly owns 11,354,032 shares of the company's stock, valued at $845,988,924.32. This trade represents a 32.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the firm'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 directly owns 3,050 shares in the company, valued at $232,288. This trade represents a 69.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,575,797 shares of company stock valued at $415,742,123. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NTNX shares. Oppenheimer upped their target price on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Wall Street Zen lowered Nutanix from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Piper Sandler reiterated an "overweight" rating and set a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.15.

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.