Arcadia Investment Management Corp MI Makes New Investment in Nutanix, Inc. (NASDAQ:NTNX)

Arcadia Investment Management Corp MI bought a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,100 shares of the technology company’s stock, valued at approximately $176,000.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Nutanix by 7,970.6% in 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 last quarter. Victory Capital Management Inc. increased its position in Nutanix by 30.1% during the fourth quarter. Victory Capital Management Inc. now owns 33,370 shares of the technology company’s stock worth $1,591,000 after purchasing an additional 7,720 shares during the last quarter. Natixis Advisors L.P. purchased a new position in Nutanix during the fourth quarter worth about $570,000. Amalgamated Bank boosted its holdings in Nutanix by 2.4% in the 4th quarter. Amalgamated Bank now owns 43,310 shares of the technology company’s stock valued at $2,065,000 after purchasing an additional 997 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Nutanix by 3.6% in the 4th quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock valued at $442,000 after buying an additional 325 shares during the period. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Stock Down 0.8 %

NASDAQ NTNX traded down $0.53 during trading hours on Friday, hitting $62.30. 210,473 shares of the company were exchanged, compared to its average volume of 2,689,221. The company has a 50 day moving average of $53.53 and a two-hundred day moving average of $58.86. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of -897.57, a PEG ratio of 5.75 and a beta of 1.16. Nutanix, Inc. has a 52-week low of $33.30 and a 52-week high of $73.69.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 12,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the transaction, the chief financial officer now owns 144,902 shares in the company, valued at approximately $7,711,684.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Nutanix news, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total value of $668,762.52. Following the sale, the chief financial officer now directly owns 144,902 shares in the company, valued at $7,711,684.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 23,986 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $1,299,801.34. Following the transaction, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at $22,057,768.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,936 shares of company stock worth $2,531,273. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NTNX shares. Barclays upped their price objective on Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Northland Securities increased their price target on Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. JPMorgan Chase & Co. raised their price objective on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Nutanix in a research report on Thursday, August 29th. Finally, Royal Bank of Canada lifted their price target 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.31.

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.