Vestcor Inc Invests $304,000 in Nutanix, Inc. (NASDAQ:NTNX)

Vestcor Inc purchased a new stake in Nutanix, Inc. (NASDAQ:NTNX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,971 shares of the technology company’s stock, valued at approximately $304,000.

A number of other large investors have also recently bought and sold shares of the business. Atria Investments Inc lifted its position in Nutanix by 29.3% during the 3rd quarter. Atria Investments Inc now owns 5,058 shares of the technology company’s stock worth $300,000 after acquiring an additional 1,147 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Nutanix by 75.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,600 shares of the technology company’s stock worth $510,000 after purchasing an additional 3,700 shares during the period. ING Groep NV purchased a new position in Nutanix in the 3rd quarter valued at $1,108,000. CIBC Asset Management Inc grew its position in Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after buying an additional 233 shares during the last quarter. Finally, Claro Advisors LLC acquired a new position in Nutanix in the 3rd quarter valued at $207,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

Wall Street Analyst Weigh In

NTNX has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Piper Sandler increased their target price on Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. Finally, Wells Fargo & Company upped their price objective on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Price Performance

Shares of Nutanix stock opened at $71.11 on Tuesday. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $79.99. The business has a 50 day moving average price of $68.73 and a 200 day moving average price of $65.72. The company has a market capitalization of $18.96 billion, a P/E ratio of -203.17, a P/E/G ratio of 11.80 and a beta of 1.04.

Insiders Place Their Bets

In other news, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the completion of the sale, the director now directly owns 11,354,032 shares in the company, valued at $845,988,924.32. The trade was a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of the company’s 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 transaction, the chief executive officer now directly owns 540,463 shares in the company, valued at $37,832,410. The trade was a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,609,206 shares of company stock valued at $417,458,120. 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.