Forum Financial Management LP Buys New Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Forum Financial Management LP purchased a new position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,759 shares of the technology company's stock, valued at approximately $230,000.

A number of other large investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of Nutanix by 5.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 36,206 shares of the technology company's stock worth $2,215,000 after purchasing an additional 1,723 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Nutanix during the fourth quarter valued at approximately $299,000. Blue Trust Inc. grew its position in Nutanix by 27.5% during the 4th quarter. Blue Trust Inc. now owns 2,600 shares of the technology company's stock worth $154,000 after purchasing an additional 561 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Nutanix by 1,555.9% in the fourth quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company's stock worth $4,540,000 after acquiring an additional 69,722 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Nutanix by 24.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 146,261 shares of the technology company's stock valued at $8,948,000 after purchasing an additional 29,074 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on NTNX. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Susquehanna increased 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. Northland Securities upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating and raised their target price for the company from $77.00 to $97.00 in a research report on Thursday, February 27th. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a research note on Thursday. Finally, Barclays set a $94.00 target price on shares of Nutanix and gave the company an "overweight" rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nutanix presently has a consensus rating of "Buy" and an average price target of $90.38.

Nutanix Stock Performance

Shares of NASDAQ NTNX traded down $0.59 during midday trading on Friday, reaching $75.26. 4,886,279 shares of the company traded hands, compared to its average volume of 2,556,948. The firm has a market cap of $20.07 billion, a PE ratio of -215.03, a PEG ratio of 11.80 and a beta of 0.70. The stock's 50-day simple moving average is $70.30 and its 200-day simple moving average is $68.82. Nutanix, Inc. has a 12 month low of $43.35 and a 12 month high of $83.36.

Insider Activity at Nutanix

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total value of $409,805,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total value of $4,823,503.00. Following the transaction, the chief executive officer now owns 497,309 shares of the company's stock, valued at $39,287,411. This trade represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,568,797 shares of company stock valued at $415,209,003 over the last ninety days. 6.80% of the stock is owned by 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.