Nutanix, Inc. (NASDAQ:NTNX) Position Cut by Granahan Investment Management LLC

Granahan Investment Management LLC lowered its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,828 shares of the technology company's stock after selling 17,934 shares during the period. Granahan Investment Management LLC owned approximately 0.07% of Nutanix worth $11,736,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Harbour Investments Inc. lifted 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 during the period. Colonial Trust Co SC bought a new stake in shares of Nutanix during the 4th quarter worth about $28,000. Allworth Financial LP lifted its stake in shares of 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 acquiring an additional 256 shares during the period. Principal Securities Inc. boosted its holdings in shares of Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Nutanix during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.25% of the company's stock.

Nutanix Stock Up 0.9 %

Shares of NASDAQ:NTNX opened at $75.10 on Friday. The company's fifty day moving average is $67.62 and its two-hundred day moving average is $67.33. The company has a market cap of $20.03 billion, a P/E ratio of -214.57, a price-to-earnings-growth ratio of 11.80 and a beta of 0.70. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $79.99.

Insider Activity

In other Nutanix news, 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 transaction of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares of the company's stock, valued at $845,988,924.32. This trade represents a 32.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the completion of the transaction, the director now directly owns 3,050 shares in the company, valued at $232,288. This trade represents a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,514,740 shares of company stock worth $410,918,620. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler decreased their price target on Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. UBS Group raised their target price on Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Northland Securities upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $77.00 to $97.00 in a research report on Thursday, February 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $87.85.

Nutanix 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.

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.