Vestcor Inc Takes Position in Nutanix, Inc. (NASDAQ:NTNX)

Vestcor Inc bought a new position in Nutanix, Inc. (NASDAQ:NTNX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 4,971 shares of the technology company’s stock, valued at approximately $304,000.

Other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc boosted its holdings in shares of Nutanix by 29.3% in the 3rd quarter. Atria Investments Inc now owns 5,058 shares of the technology company’s stock valued at $300,000 after purchasing an additional 1,147 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Nutanix by 75.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,600 shares of the technology company’s stock worth $510,000 after buying an additional 3,700 shares during the period. ING Groep NV acquired a new position in Nutanix in the third quarter valued at $1,108,000. CIBC Asset Management Inc grew its position in Nutanix by 3.4% during the third 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, Claro Advisors LLC acquired a new stake in Nutanix during the third quarter worth about $207,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTNX. Oppenheimer boosted their target price on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Needham & Company LLC boosted their price objective on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Raymond James set a $83.00 target price on shares of Nutanix in a research note on Thursday, February 27th. UBS Group upped their price target on shares of Nutanix from $81.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $77.00 to $97.00 in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Trading Up 2.4 %

NTNX stock opened at $71.11 on Tuesday. The firm has a 50 day simple moving average of $68.73 and a 200-day simple moving average of $65.72. The company has a market capitalization of $18.96 billion, a P/E ratio of -203.17, a PEG ratio of 11.80 and a beta of 1.04. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $79.99.

Insiders Place Their Bets

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the sale, the director now directly owns 3,050 shares of the company’s stock, valued at approximately $232,288. This represents a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,609,206 shares of company stock valued at $417,458,120 in the last ninety days. Corporate 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.