Wealthfront Advisers LLC Invests $4.49 Million in Nutanix, Inc. (NASDAQ:NTNX)

Wealthfront Advisers LLC purchased a new stake in shares of Nutanix, Inc. (NASDAQ:NTNX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 73,442 shares of the technology company’s stock, valued at approximately $4,493,000.

A number of other institutional investors also recently bought and sold shares of NTNX. Larson Financial Group LLC boosted its position in shares of Nutanix by 28.6% during the fourth 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 during the period. Freedom Investment Management Inc. lifted its stake in shares of Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after acquiring an additional 151 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Nutanix by 52.4% during the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after acquiring an additional 199 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in 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 acquiring an additional 233 shares during the period. Finally, Allworth Financial LP grew its position in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after acquiring an additional 256 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Price Performance

NTNX opened at $66.72 on Friday. The firm has a market capitalization of $17.88 billion, a PE ratio of -190.63, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The business’s 50-day moving average is $68.46 and its two-hundred day moving average is $65.37. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $79.99.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NTNX shares. Barclays set a $94.00 target price on Nutanix and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Northland Capmk upgraded shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Piper Sandler raised their target price on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $87.79.

Insider Buying and Selling

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the transaction, the director now directly owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, the chief financial officer now directly owns 190,882 shares in the company, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,684,917 shares of company stock worth $422,452,901 in the last 90 days. 6.80% of the stock is owned by corporate insiders.

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.