Primecap Management Co. CA Reduces Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Primecap Management Co. CA decreased its holdings in Nutanix, Inc. (NASDAQ:NTNX) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,105,193 shares of the technology company’s stock after selling 343,000 shares during the quarter. Primecap Management Co. CA owned 2.10% of Nutanix worth $243,467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Segantii Capital Management Ltd purchased a new position in shares of Nutanix in the third quarter worth approximately $2,672,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Nutanix by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 103,926 shares of the technology company’s stock worth $4,956,000 after buying an additional 943 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Nutanix by 3.6% in the fourth quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock worth $442,000 after buying an additional 325 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Nutanix by 306.0% in the fourth quarter. Raymond James & Associates now owns 73,765 shares of the technology company’s stock worth $3,518,000 after buying an additional 55,596 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Nutanix by 7,970.6% during the 4th quarter. International Assets Investment Management LLC now owns 103,869 shares of the technology company’s stock worth $4,954,000 after acquiring an additional 102,582 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NTNX shares. Bank of America raised their target price on shares of Nutanix from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of Nutanix from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp lifted their price objective on shares of Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on shares of Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley lifted their price objective on shares of Nutanix from $63.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix has a consensus rating of “Moderate Buy” and an average price target of $68.54.

Insiders Place Their Bets

In other Nutanix news, insider Tyler Wall sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the transaction, the insider now directly owns 13,168 shares in the company, valued at $819,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Rukmini Sivaraman sold 53,029 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the transaction, the chief financial officer now owns 144,635 shares in the company, valued at $9,368,008.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tyler Wall sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $62.25, for a total transaction of $933,750.00. Following the transaction, the insider now owns 13,168 shares in the company, valued at approximately $819,708. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,506 shares of company stock worth $8,270,938. 0.46% of the stock is owned by corporate insiders.

Nutanix Trading Up 2.0 %

Shares of NTNX traded up $1.40 during trading hours on Friday, reaching $72.85. 1,462,121 shares of the company traded hands, compared to its average volume of 1,888,053. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of -202.36 and a beta of 1.27. Nutanix, Inc. has a 12-month low of $26.47 and a 12-month high of $73.69. The stock’s fifty day moving average price is $64.38 and its 200 day moving average price is $55.78.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The firm had revenue of $565.23 million during the quarter, compared to the consensus estimate of $551.82 million. On average, research analysts forecast that Nutanix, Inc. will post -0.04 earnings per share for the current year.

About Nutanix

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.