Advisory Services Network LLC Sells 7,076 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Advisory Services Network LLC cut its stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,114 shares of the technology company's stock after selling 7,076 shares during the quarter. Advisory Services Network LLC's holdings in Nutanix were worth $680,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NTNX. Vanguard Group Inc. boosted its position in shares of Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock valued at $1,568,447,000 after acquiring an additional 146,854 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock valued at $270,348,000 after buying an additional 268,400 shares in the last quarter. Geode Capital Management LLC grew its position in Nutanix by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after acquiring an additional 163,874 shares in the last quarter. Norges Bank bought a new stake in Nutanix during the fourth quarter worth about $195,758,000. Finally, Pictet Asset Management Holding SA boosted its stake in Nutanix by 6,785.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock worth $130,885,000 after buying an additional 2,108,269 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTNX. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an "overweight" rating in a report on Thursday, February 27th. Wells Fargo & Company raised their price objective on Nutanix from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. UBS Group increased their target price on Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Oppenheimer raised their price target on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, StockNews.com downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $87.85.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 7,740 shares of Nutanix stock in a transaction on Monday, March 24th. The stock was sold at an average price of $75.00, for a total transaction of $580,500.00. Following the completion of the transaction, the chief executive officer now owns 558,366 shares in the company, valued at approximately $41,877,450. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the sale, the director now directly owns 3,050 shares in the company, valued at approximately $232,288. This represents a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,610,592 shares of company stock worth $417,628,260 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Nutanix Price Performance

NTNX traded down $0.24 on Friday, hitting $61.63. The company had a trading volume of 1,051,856 shares, compared to its average volume of 2,515,309. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $79.99. The stock has a fifty day simple moving average of $68.62 and a 200-day simple moving average of $66.79. The firm has a market capitalization of $16.43 billion, a P/E ratio of -176.09, a P/E/G ratio of 11.80 and a beta of 0.84.

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.