Pier 88 Investment Partners LLC Acquires New Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Pier 88 Investment Partners LLC bought a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,750 shares of the technology company’s stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NTNX. Harbour Investments Inc. lifted its stake in shares of Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after purchasing an additional 418 shares during the last quarter. Allworth Financial LP raised its holdings in Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Nutanix by 122.7% during the third 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 during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares in the last quarter. Finally, Principal Securities Inc. grew its position in shares of Nutanix by 52.4% in 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. Institutional investors own 85.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NTNX. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Barclays set a $94.00 price objective on Nutanix and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. Wells Fargo & Company increased their price target on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Raymond James set a $83.00 price target on Nutanix in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nutanix currently has an average rating of “Buy” and an average target price of $87.79.

Nutanix Price Performance

Shares of Nutanix stock opened at $71.02 on Monday. The stock has a market cap of $18.94 billion, a PE ratio of -202.91, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The firm has a fifty day moving average price of $70.38 and a 200 day moving average price of $66.42. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $79.99.

Insider Buying and Selling at Nutanix

In related news, Director Steven J. Gomo sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the sale, the director now directly owns 3,050 shares of the company’s stock, valued at $232,288. This trade represents a 69.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the transaction, the director now directly owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. The trade was a 32.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,610,886 shares of company stock worth $417,646,356. Insiders own 6.80% of the company’s stock.

Nutanix 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.