Inspire Advisors LLC Reduces Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Inspire Advisors LLC cut its stake in Nutanix, Inc. (NASDAQ:NTNX) by 91.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,963 shares of the technology company’s stock after selling 43,528 shares during the quarter. Inspire Advisors LLC’s holdings in Nutanix were worth $242,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Larson Financial Group LLC increased its holdings in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares in the last quarter. Principal Securities Inc. increased its holdings in Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock valued at $35,000 after buying an additional 199 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Nutanix in the fourth quarter valued at about $40,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTNX. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Raymond James set a $83.00 price target on shares of Nutanix in a research report on Thursday, February 27th. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a research report on Thursday, February 27th. Morgan Stanley increased their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $77.00 to $97.00 in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $87.79.

Nutanix Stock Up 1.9 %

Shares of NTNX opened at $67.77 on Thursday. The firm has a market cap of $18.16 billion, a PE ratio of -193.63, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The company’s fifty day moving average is $68.35 and its two-hundred day moving average is $65.36. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99.

Insider Buying and Selling at Nutanix

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