SP Asset Management LLC Sells 20,267 Shares of Nutanix, Inc. (NASDAQ:NTNX)

SP Asset Management LLC reduced its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183,173 shares of the technology company’s stock after selling 20,267 shares during the quarter. Nutanix comprises 0.9% of SP Asset Management LLC’s portfolio, making the stock its 26th biggest position. SP Asset Management LLC’s holdings in Nutanix were worth $11,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Freedom Investment Management Inc. raised its position in shares of Nutanix by 4.0% during the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares during the period. Principal Securities Inc. raised its position in shares of Nutanix by 52.4% during the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after purchasing an additional 199 shares during the period. CIBC Asset Management Inc raised its position in shares of Nutanix by 3.4% during the third quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock worth $417,000 after purchasing an additional 233 shares during the period. Allworth Financial LP raised its position in shares of Nutanix by 123.1% during 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 during the period. Finally, Larson Financial Group LLC raised 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 worth $30,000 after purchasing an additional 281 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Price Performance

Nutanix stock opened at $77.10 on Thursday. The company’s 50-day moving average is $67.74 and its 200-day moving average is $64.82. The firm has a market capitalization of $20.66 billion, a PE ratio of -220.29, a P/E/G ratio of 11.80 and a beta of 1.17. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99.

Analyst Upgrades and Downgrades

NTNX has been the subject of several research reports. Northland Capmk raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada upped their price objective on Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Oppenheimer upped their price objective on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company upped their price objective on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nutanix currently has a consensus rating of “Buy” and an average price target of $87.79.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the sale, the director now directly owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the sale, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,684,917 shares of company stock valued at $422,452,901 over the last 90 days. 6.80% of the stock is currently owned by insiders.

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.