Envestnet Asset Management Inc. Buys 7,728 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Envestnet Asset Management Inc. boosted its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,686 shares of the technology company's stock after purchasing an additional 7,728 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Nutanix were worth $2,550,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Harbour Investments Inc. grew its stake in shares of Nutanix by 2,612.5% in 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 in the last quarter. Allworth Financial LP boosted its holdings 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 purchasing an additional 256 shares during the period. Principal Securities Inc. grew its position in shares of Nutanix by 52.4% during the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after buying an additional 199 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Nutanix in the 4th quarter worth approximately $40,000. Finally, Larson Financial Group LLC grew its position in shares of Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock worth $40,000 after acquiring an additional 146 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nutanix

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were 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 of the company's stock, valued at $232,288. This trade represents a 69.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 7,740 shares of the business'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 trade 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 worth $417,628,260 over the last 90 days. Insiders own 6.80% of the company's stock.

Nutanix Stock Down 1.1 %

NTNX traded down $0.77 during trading on Wednesday, hitting $67.75. The company's stock had a trading volume of 1,036,959 shares, compared to its average volume of 2,515,427. Nutanix, Inc. has a 12 month low of $43.35 and a 12 month high of $79.99. The firm's 50 day moving average price is $67.67 and its two-hundred day moving average price is $66.85. The stock has a market capitalization of $18.07 billion, a price-to-earnings ratio of -193.57, a price-to-earnings-growth ratio of 11.80 and a beta of 0.84.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Wells Fargo & Company upped 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. Raymond James set a $83.00 target price on shares of Nutanix in a research note on Thursday, February 27th. StockNews.com lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st. Finally, Piper Sandler cut their target price on Nutanix from $88.00 to $76.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target 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.