Jericho Capital Asset Management L.P. Sells 962,367 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Jericho Capital Asset Management L.P. trimmed its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 25.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,794,636 shares of the technology company's stock after selling 962,367 shares during the period. Nutanix makes up approximately 2.4% of Jericho Capital Asset Management L.P.'s investment portfolio, making the stock its 15th largest holding. Jericho Capital Asset Management L.P. owned 1.04% of Nutanix worth $170,976,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Harbour Investments Inc. raised its stake in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock worth $27,000 after buying an additional 418 shares in the last quarter. Allworth Financial LP raised its position in Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company's stock worth $31,000 after acquiring an additional 256 shares in the last quarter. Principal Securities Inc. lifted its holdings in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after acquiring an additional 199 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Nutanix during the 4th quarter valued at about $40,000. Finally, Larson Financial Group LLC grew its stake in shares of Nutanix by 28.6% in the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock worth $40,000 after purchasing an additional 146 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Stock Up 3.2 %

NTNX traded up $2.21 during trading on Thursday, reaching $70.91. 2,583,948 shares of the company's stock were exchanged, compared to its average volume of 2,528,336. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The company has a market capitalization of $18.91 billion, a P/E ratio of -202.60, a PEG ratio of 11.80 and a beta of 0.84. The business has a 50 day moving average price of $67.70 and a 200 day moving average price of $66.91.

Insider Activity at Nutanix

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This trade represents a 32.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 7,740 shares of the company'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 sale, the chief executive officer now directly owns 558,366 shares in the company, valued at $41,877,450. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,592 shares of company stock valued at $417,628,260 over the last quarter. 6.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NTNX shares. Northland Securities upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Royal Bank of Canada upped their target price on Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. UBS Group increased their price target on Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, Oppenheimer boosted their price objective on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $87.85.

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.