Cullen Frost Bankers Inc. Trims Stake in Nutanix, Inc. (NASDAQ:NTNX)

Cullen Frost Bankers Inc. reduced its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,914 shares of the technology company’s stock after selling 1,146 shares during the period. Cullen Frost Bankers Inc.’s holdings in Nutanix were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTNX. Bain Capital Investors LLC purchased a new stake in shares of Nutanix in the third quarter worth $998,601,000. Champlain Investment Partners LLC increased its stake in shares of Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after purchasing an additional 215,363 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after purchasing an additional 22,091 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after purchasing an additional 374,328 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after purchasing an additional 695,567 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Down 1.3 %

NTNX stock opened at $70.41 on Friday. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $79.99. The company has a fifty day simple moving average of $68.06 and a two-hundred day simple moving average of $65.08. The firm has a market capitalization of $18.86 billion, a P/E ratio of -201.17, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04.

Insider Buying and Selling at Nutanix

In other news, CEO Rajiv Ramaswami sold 63,901 shares of the firm’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 completion of the sale, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the firm’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 transaction, the director now directly 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. Insiders sold 5,684,917 shares of company stock worth $422,452,901 over the last 90 days. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

NTNX has been the subject of a number of analyst reports. Northland Capmk raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. UBS Group increased their price objective on shares of Nutanix from $81.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley upped their target price on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Finally, Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $77.00 to $97.00 in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.