Blue Grotto Capital LLC Sells 721 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Blue Grotto Capital LLC trimmed its position in Nutanix, Inc. (NASDAQ:NTNX) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 190,000 shares of the technology company’s stock after selling 721 shares during the quarter. Nutanix makes up approximately 2.1% of Blue Grotto Capital LLC’s portfolio, making the stock its 21st largest holding. Blue Grotto Capital LLC’s holdings in Nutanix were worth $11,624,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Harbour Investments Inc. lifted its position in shares of Nutanix by 2,612.5% in the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after buying an additional 418 shares during the last quarter. Larson Financial Group LLC boosted its position in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the period. Allworth Financial LP increased its holdings in shares of 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 purchasing an additional 256 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of 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 purchasing an additional 321 shares during the period. Finally, 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 buying an additional 199 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their price target on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Piper Sandler upped their price objective on Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Morgan Stanley lifted their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Northland Capmk upgraded shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $87.79.

Nutanix Stock Performance

Shares of NTNX stock opened at $74.92 on Wednesday. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The stock’s fifty day moving average price is $70.01 and its two-hundred day moving average price is $66.17. The company has a market cap of $19.98 billion, a PE ratio of -214.06, a P/E/G ratio of 11.80 and a beta of 1.04.

Insider Activity at Nutanix

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the transaction, the chief executive officer now directly owns 540,463 shares in the company, valued at approximately $37,832,410. This represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Groen Max Pieter De sold 5,500,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,610,886 shares of company stock valued at $417,646,356 over the last ninety days. 6.80% of the stock is owned by corporate 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.