NorthCrest Asset Manangement LLC Purchases New Stake in Nutanix, Inc. (NASDAQ:NTNX)

NorthCrest Asset Manangement LLC purchased a new stake in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,305 shares of the technology company's stock, valued at approximately $370,000.

Other large investors have also recently bought and sold shares of the company. Harbour Investments Inc. raised its position in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock valued at $27,000 after buying an additional 418 shares during the period. Colonial Trust Co SC acquired a new position in Nutanix during the fourth quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its position in Nutanix by 78.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Allworth Financial LP increased its position in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company's stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Finally, Principal Securities Inc. increased its position 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 last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nutanix

In related news, CEO Rajiv Ramaswami sold 7,740 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $75.00, for a total transaction of $580,500.00. Following the completion of the sale, the chief executive officer now owns 558,366 shares in the company, valued at $41,877,450. This represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Virginia Gambale sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the sale, the director now owns 38,330 shares of the company's stock, valued at approximately $2,989,740. The trade was a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,556,264 shares of company stock worth $426,904,673 in the last 90 days. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 target price (up from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Wall Street Zen lowered Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. upped 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. Northland Capmk raised Nutanix from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Susquehanna upped 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. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.38.

Nutanix Stock Down 2.0%

Shares of NASDAQ:NTNX opened at $72.13 on Monday. The business has a 50 day moving average price of $72.11 and a 200 day moving average price of $69.20. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $83.36. The company has a market cap of $19.23 billion, a price-to-earnings ratio of -206.09, a PEG ratio of 11.80 and a beta of 0.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.