Atreides Management LP Makes New $8.29 Million Investment in Nutanix, Inc. (NASDAQ:NTNX)

Atreides Management LP purchased a new position in Nutanix, Inc. (NASDAQ:NTNX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 139,912 shares of the technology company’s stock, valued at approximately $8,290,000. Atreides Management LP owned approximately 0.05% of Nutanix as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Freedom Investment Management Inc. lifted its stake in Nutanix by 4.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Nutanix by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after buying an additional 233 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Nutanix by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after buying an additional 243 shares in the last quarter. Paragon Capital Management Inc. raised its position in shares of Nutanix by 1.0% during the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after buying an additional 258 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Nutanix by 122.7% during the 3rd 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. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

Shares of NTNX stock opened at $65.28 on Monday. The company has a market capitalization of $17.31 billion, a P/E ratio of -186.51, a P/E/G ratio of 10.80 and a beta of 1.17. The company’s 50-day simple moving average is $64.88 and its two-hundred day simple moving average is $59.33. Nutanix, Inc. has a one year low of $42.22 and a one year high of $75.80.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. This represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC upped their target price on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Bank of America upped their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Piper Sandler increased their price objective on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nutanix has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Profile

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.