Nissay Asset Management Corp Japan ADV Takes Position in Nutanix, Inc. (NASDAQ:NTNX)

Nissay Asset Management Corp Japan ADV acquired a new position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 29,956 shares of the technology company's stock, valued at approximately $1,873,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. raised its holdings in Nutanix by 2,612.5% in the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock worth $27,000 after purchasing an additional 418 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Nutanix during the fourth quarter worth $28,000. Allworth Financial LP increased its holdings in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock valued at $31,000 after purchasing an additional 256 shares during the period. Principal Securities Inc. raised its holdings in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock worth $35,000 after purchasing an additional 199 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Nutanix in the 4th quarter worth approximately $40,000. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTNX has been the subject of several recent analyst reports. Piper Sandler lowered their target price on shares of Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays set a $94.00 target price on Nutanix and gave the company an "overweight" rating in a report on Thursday, February 27th. Raymond James lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Finally, Northland Capmk upgraded shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nutanix presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.23.

Insider Activity

In related news, CEO Rajiv Ramaswami sold 61,057 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the transaction, the chief executive officer now owns 497,309 shares in the company, valued at approximately $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction 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 completion of the transaction, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,575,797 shares of company stock worth $415,742,123 in the last quarter. 6.80% of the stock is owned by company insiders.

Nutanix Price Performance

Nutanix stock traded down $1.65 during trading hours on Tuesday, reaching $81.42. The company had a trading volume of 2,706,294 shares, compared to its average volume of 2,562,111. The firm has a market cap of $21.71 billion, a price-to-earnings ratio of -232.63, a P/E/G ratio of 11.80 and a beta of 0.70. The company has a 50-day moving average price of $69.02 and a 200 day moving average price of $68.17. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $83.36.

About Nutanix

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.