Nutanix, Inc. (NASDAQ:NTNX) Stock Position Boosted by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. raised its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 105.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,383 shares of the technology company’s stock after buying an additional 32,540 shares during the period. Nutanix makes up 1.4% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 21st biggest position. Peregrine Asset Advisers Inc.’s holdings in Nutanix were worth $3,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTNX. Bain Capital Investors LLC acquired a new position in shares of Nutanix during the third quarter valued at approximately $998,601,000. Two Sigma Advisers LP boosted its stake in Nutanix by 32.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after purchasing an additional 695,567 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Nutanix by 5,473.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,317 shares of the technology company’s stock valued at $29,325,000 after purchasing an additional 470,717 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Nutanix by 235.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 544,516 shares of the technology company’s stock worth $33,313,000 after buying an additional 382,232 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Nutanix by 15.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after buying an additional 374,328 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NTNX shares. Morgan Stanley lifted their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler increased their price target on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Barclays lifted their price target on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Northland Securities reaffirmed a “market perform” rating and set a $77.00 price objective (up from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their target price on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and an average target price of $79.50.

Nutanix Stock Performance

Nutanix stock opened at $69.74 on Friday. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $75.80. The firm has a market cap of $18.69 billion, a PE ratio of -199.26, a P/E/G ratio of 11.80 and a beta of 1.17. The firm’s 50 day moving average price is $66.24 and its two-hundred day moving average price is $63.23.

Insider Activity

In related news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 540,463 shares of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock worth $12,114,781 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.