Atreides Management LP Takes Position in Nutanix, Inc. (NASDAQ:NTNX)

Atreides Management LP acquired a new stake in shares of Nutanix, Inc. (NASDAQ:NTNX) during the third quarter, HoldingsChannel reports. The fund acquired 139,912 shares of the technology company’s stock, valued at approximately $8,290,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTNX. Tidal Investments LLC lifted its position in Nutanix by 37.0% during the first quarter. Tidal Investments LLC now owns 23,551 shares of the technology company’s stock valued at $1,454,000 after acquiring an additional 6,364 shares during the last quarter. Cetera Investment Advisers lifted its position in Nutanix by 48.7% during the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after acquiring an additional 24,918 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Nutanix during the first quarter valued at approximately $3,141,000. GAMMA Investing LLC lifted its position in Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after acquiring an additional 243 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in Nutanix during the second quarter valued at approximately $247,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Nutanix from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC raised their price target on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Raymond James raised their price target on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Oppenheimer started coverage on shares of Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target for the company. Finally, StockNews.com raised shares of Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Price Performance

Shares of Nutanix stock opened at $65.28 on Monday. The firm has a fifty day moving average price of $64.88 and a 200 day moving average price of $59.33. Nutanix, Inc. has a 1 year low of $42.22 and a 1 year high of $75.80. The stock has a market cap of $17.31 billion, a PE ratio of -186.51, a price-to-earnings-growth ratio of 10.80 and a beta of 1.17.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.