Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,257 shares of the technology company’s stock after acquiring an additional 329 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nutanix were worth $1,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Freedom Investment Management Inc. grew its position in shares of Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after acquiring an additional 151 shares during the period. CIBC Asset Management Inc lifted its stake in Nutanix by 3.4% in the third quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after purchasing an additional 233 shares during the last quarter. Paragon Capital Management Inc. lifted its stake in Nutanix by 1.0% in the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after purchasing an additional 258 shares during the last quarter. Larson Financial Group LLC grew its holdings in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after purchasing an additional 281 shares during the period. Finally, Advisors Asset Management Inc. increased its position in 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 buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Stock Performance

Shares of NTNX opened at $65.86 on Thursday. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $75.80. The firm has a 50 day moving average price of $66.31 and a 200-day moving average price of $60.40. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of -188.17, a PEG ratio of 10.34 and a beta of 1.16.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the transaction, the chief executive officer now directly owns 649,034 shares in the company, valued at $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 is available through the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,065 shares of company stock valued at $5,405,141 over the last three months. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTNX. Barclays upped their price target on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Oppenheimer began coverage on shares of Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective on the stock. Needham & Company LLC lifted their target price on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler upped their price target on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley lifted their price objective on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.47.

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.