Skandinaviska Enskilda Banken AB publ Buys Shares of 114,500 Nutanix, Inc. (NASDAQ:NTNX)

Skandinaviska Enskilda Banken AB publ bought a new stake in Nutanix, Inc. (NASDAQ:NTNX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 114,500 shares of the technology company’s stock, valued at approximately $7,104,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Larson Financial Group LLC boosted its position in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 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, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Nutanix in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Stock Performance

Shares of NTNX opened at $69.47 on Friday. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $79.99. The stock has a 50 day moving average price of $68.59 and a two-hundred day moving average price of $65.57. The firm has a market capitalization of $18.61 billion, a P/E ratio of -198.49, a P/E/G ratio of 11.80 and a beta of 1.04.

Insider Activity at Nutanix

In other news, Director Virginia Gambale sold 6,060 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total transaction of $533,120.00. Following the transaction, the director now directly owns 3,050 shares in the company, valued at $232,288. The trade was a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,684,917 shares of company stock valued at $422,452,901. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NTNX. Wells Fargo & Company upped their target price on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Oppenheimer lifted 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. Piper Sandler lifted their target price on Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix presently has an average 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.