Essex Investment Management Co. LLC Sells 951 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Essex Investment Management Co. LLC cut its position in shares of Nutanix, Inc. (NASDAQ:NTNX) by 58.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 686 shares of the technology company’s stock after selling 951 shares during the period. Essex Investment Management Co. LLC’s holdings in Nutanix were worth $42,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NTNX. Larson Financial Group LLC boosted its stake in Nutanix by 28.6% in the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock valued at $40,000 after buying an additional 146 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Nutanix in the 4th quarter valued at $40,000. Andra AP fonden acquired a new stake in Nutanix in the 4th quarter valued at $5,219,000. Candriam S.C.A. boosted its stake in Nutanix by 31.1% in the 4th quarter. Candriam S.C.A. now owns 4,792 shares of the technology company’s stock valued at $293,000 after buying an additional 1,137 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Nutanix in the 4th quarter valued at $86,824,000. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NTNX has been the topic of several recent analyst reports. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada boosted their price target on Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. UBS Group boosted their price target on Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley boosted their price objective on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Barclays set a $94.00 price objective on Nutanix and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $87.79.

Nutanix Stock Down 8.5 %

Shares of NTNX opened at $64.39 on Tuesday. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $79.99. The firm has a market capitalization of $17.25 billion, a PE ratio of -183.97, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The stock’s fifty day simple moving average is $68.11 and its 200-day simple moving average is $65.25.

Insider Activity

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares in the company, valued at approximately $845,988,924.32. This represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the sale, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,684,917 shares of company stock valued at $422,452,901 over the last 90 days. 6.80% of the stock is owned by company insiders.

About Nutanix

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.