Nutanix, Inc. (NASDAQ:NTNX) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC boosted its position in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 180.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,292 shares of the technology company's stock after purchasing an additional 11,777 shares during the period. Merit Financial Group LLC's holdings in Nutanix were worth $1,277,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Nutanix by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company's stock valued at $88,271,000 after acquiring an additional 33,980 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Nutanix by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company's stock valued at $453,000 after acquiring an additional 375 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Nutanix by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company's stock valued at $593,000 after acquiring an additional 325 shares during the last quarter. LPL Financial LLC lifted its position in shares of Nutanix by 4.8% during the 4th quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock valued at $4,389,000 after acquiring an additional 3,276 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Nutanix during the 4th quarter valued at $234,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 7,740 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $75.00, for a total transaction of $580,500.00. Following the transaction, the chief executive officer now owns 558,366 shares in the company, valued at approximately $41,877,450. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NTNX shares. Royal Bank of Canada boosted their target price on shares of Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Morgan Stanley reissued an "overweight" rating and set a $90.00 target price (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Needham & Company LLC reissued a "buy" rating and set a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Northland Securities raised shares of Nutanix from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. Finally, Northland Capmk raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $90.38.

Nutanix Trading Down 1.6%

Shares of NASDAQ NTNX opened at $77.11 on Friday. The firm has a market cap of $20.56 billion, a PE ratio of -220.31, a PEG ratio of 11.80 and a beta of 0.69. Nutanix, Inc. has a 1-year low of $43.35 and a 1-year high of $83.36. The company has a fifty day moving average price of $70.93 and a 200 day moving average price of $69.08.

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.

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