Panoramic Capital LLC Invests $2.89 Million in Nutanix, Inc. (NASDAQ:NTNX)

Panoramic Capital LLC purchased a new stake in Nutanix, Inc. (NASDAQ:NTNX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 47,175 shares of the technology company's stock, valued at approximately $2,886,000. Nutanix makes up about 1.5% of Panoramic Capital LLC's portfolio, making the stock its 17th biggest position.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Nutanix by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company's stock worth $1,568,447,000 after buying an additional 146,854 shares in the last quarter. Renaissance Technologies LLC lifted its position in Nutanix by 6.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company's stock worth $270,348,000 after buying an additional 268,400 shares in the last quarter. Geode Capital Management LLC lifted its position in Nutanix by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company's stock worth $263,275,000 after buying an additional 163,874 shares in the last quarter. First Trust Advisors LP lifted its position in Nutanix by 9.3% in the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company's stock worth $214,055,000 after buying an additional 297,754 shares in the last quarter. Finally, Norges Bank purchased a new stake in Nutanix in the 4th quarter worth approximately $195,758,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Trading Up 2.6%

NTNX stock traded up $2.11 during trading on Friday, hitting $82.77. 3,398,743 shares of the stock traded hands, compared to its average volume of 2,560,795. Nutanix, Inc. has a one year low of $43.35 and a one year high of $83.14. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of -236.49, a P/E/G ratio of 11.80 and a beta of 0.70. The company has a 50 day simple moving average of $68.72 and a 200 day simple moving average of $67.96.

Insider Activity at Nutanix

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were 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 owns 3,050 shares in the company, valued at approximately $232,288. This trade represents a 69.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the sale, the director now owns 11,354,032 shares of the company's stock, valued at approximately $845,988,924.32. This represents a 32.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,575,797 shares of company stock valued at $415,742,123 in the last ninety days. Insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" 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 raised their target price for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. Needham & Company LLC raised their target price on shares of Nutanix from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Oppenheimer raised their target price on shares of Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Finally, UBS Group raised their target price on shares of Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $87.85.

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.