Pallas Capital Advisors LLC Purchases 13,702 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Pallas Capital Advisors LLC boosted its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 102.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,134 shares of the technology company's stock after buying an additional 13,702 shares during the quarter. Pallas Capital Advisors LLC's holdings in Nutanix were worth $1,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Daymark Wealth Partners LLC acquired a new position in Nutanix during the first quarter worth $223,000. Toth Financial Advisory Corp increased its position in Nutanix by 10.1% during the first quarter. Toth Financial Advisory Corp now owns 13,890 shares of the technology company's stock worth $970,000 after buying an additional 1,270 shares during the last quarter. Yarbrough Capital LLC acquired a new position in Nutanix during the first quarter worth $383,000. Annex Advisory Services LLC acquired a new position in Nutanix during the first quarter worth $37,294,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Nutanix by 17.6% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,338 shares of the technology company's stock worth $93,000 after buying an additional 200 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTNX has been the topic of several research analyst reports. Royal Bank of Canada raised their price target on Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Northland Securities raised Nutanix from a "market perform" rating to an "outperform" rating and raised their price target for the company from $77.00 to $97.00 in a research report on Thursday, February 27th. Wells Fargo & Company raised their price target on Nutanix from $75.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Oppenheimer raised their price target on Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $90.38.

Nutanix Price Performance

Shares of NASDAQ NTNX traded down $1.47 during mid-day trading on Friday, hitting $72.13. The company had a trading volume of 2,263,179 shares, compared to its average volume of 2,533,132. The firm has a market cap of $19.23 billion, a P/E ratio of -206.09, a PEG ratio of 11.80 and a beta of 0.69. Nutanix, Inc. has a 12 month low of $43.35 and a 12 month high of $83.36. The business's 50-day simple moving average is $71.83 and its 200-day simple moving average is $69.16.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 7,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of the transaction, the director now owns 38,330 shares in the company, valued at $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajiv Ramaswami sold 7,740 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was 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 of the company's stock, valued at approximately $41,877,450. This represents a 1.37% 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 over the last quarter. Company insiders own 6.80% of the company's stock.

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.