Connor Clark & Lunn Investment Management Ltd. Has $50.67 Million Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Nutanix, Inc. (NASDAQ:NTNX) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,221 shares of the technology company’s stock after selling 215,280 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.31% of Nutanix worth $50,671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC grew its stake in shares of Nutanix by 28.6% in the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock worth $40,000 after purchasing an additional 146 shares during the last quarter. Freedom Investment Management Inc. grew its stake in shares of Nutanix by 4.0% in 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 last quarter. Avantax Advisory Services Inc. grew its stake in shares of Nutanix by 3.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock worth $349,000 after purchasing an additional 188 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Nutanix by 52.4% in 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 last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Nutanix by 3.4% in 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 last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Up 1.9 %

Shares of NASDAQ NTNX opened at $67.77 on Thursday. The firm’s 50-day moving average price is $68.35 and its 200-day moving average price is $65.36. Nutanix, Inc. has a 1-year low of $43.35 and a 1-year high of $79.99. The firm has a market capitalization of $18.16 billion, a P/E ratio of -193.63, a P/E/G ratio of 11.80 and a beta of 1.04.

Insider Activity

In related news, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $65.85, for a total value of $4,207,880.85. Following the sale, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. This represents a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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 owns 45,330 shares in the company, valued at $2,934,210.90. This represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,684,917 shares of company stock worth $422,452,901. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NTNX shares. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. Wells Fargo & Company boosted their price objective on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Morgan Stanley upped their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $87.79.

Nutanix Company 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.