Nutanix, Inc. (NASDAQ:NTNX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its stake in Nutanix, Inc. (NASDAQ:NTNX) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 5,105,193 shares of the technology company’s stock after selling 343,000 shares during the quarter. Primecap Management Co. CA’s holdings in Nutanix were worth $243,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC boosted its stake in shares of Nutanix by 1.6% in the third quarter. FMR LLC now owns 35,942,093 shares of the technology company’s stock valued at $1,253,660,000 after buying an additional 578,189 shares in the last quarter. Norges Bank purchased a new stake in shares of Nutanix in the fourth quarter valued at approximately $137,465,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Nutanix in the third quarter valued at approximately $82,421,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Nutanix by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,151,300 shares of the technology company’s stock valued at $102,595,000 after buying an additional 114,687 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Nutanix by 3.5% in the third quarter. Northern Trust Corp now owns 1,423,188 shares of the technology company’s stock valued at $49,641,000 after buying an additional 47,899 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Insider Transactions at Nutanix

In related news, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total transaction of $933,750.00. Following the sale, the insider now directly owns 13,168 shares in the company, valued at approximately $819,708. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Rukmini Sivaraman sold 53,029 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the sale, the chief financial officer now directly owns 144,635 shares in the company, valued at approximately $9,368,008.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the sale, the insider now owns 13,168 shares in the company, valued at $819,708. The disclosure for this sale can be found here. Insiders have sold a total of 129,506 shares of company stock worth $8,270,938 in the last three months. 0.46% of the stock is currently owned by company insiders.

Nutanix Stock Performance

NASDAQ NTNX traded up $1.40 during trading hours on Friday, hitting $72.85. 1,462,121 shares of the company’s stock were exchanged, compared to its average volume of 1,888,053. The business’s 50 day moving average is $64.38 and its 200-day moving average is $55.78. Nutanix, Inc. has a 12-month low of $26.47 and a 12-month high of $73.69. The firm has a market capitalization of $17.80 billion, a P/E ratio of -202.36 and a beta of 1.27.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The business had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. As a group, equities research analysts anticipate that Nutanix, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JMP Securities upped their target price on Nutanix from $50.00 to $70.00 and gave the company a “market outperform” rating in a report on Monday, February 5th. KeyCorp upped their target price on Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Raymond James raised Nutanix from a “market perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Wednesday, May 8th. Needham & Company LLC upped their target price on Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada upped their target price on Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.54.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.