Pier 88 Investment Partners LLC Invests $474,000 in Nutanix, Inc. (NASDAQ:NTNX)

Pier 88 Investment Partners LLC purchased a new stake in Nutanix, Inc. (NASDAQ:NTNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,750 shares of the technology company’s stock, valued at approximately $474,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbour Investments Inc. grew its position in shares of Nutanix by 2,612.5% in the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after purchasing an additional 418 shares during the period. Allworth Financial LP lifted its stake in Nutanix by 123.1% in the 4th 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 holdings in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after buying an additional 321 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of Nutanix by 52.4% during the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock valued at $35,000 after acquiring an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the 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 completion of the transaction, the chief executive officer now owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This trade represents a 15.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the sale, the director now directly owns 3,050 shares in the company, valued at approximately $232,288. The trade was a 69.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,610,886 shares of company stock valued at $417,646,356. 6.80% of the stock is currently owned by insiders.

Nutanix Stock Down 1.3 %

NTNX stock opened at $71.02 on Monday. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $79.99. The stock has a market cap of $18.94 billion, a price-to-earnings ratio of -202.91, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The business has a fifty day moving average of $70.38 and a two-hundred day moving average of $66.42.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTNX. Royal Bank of Canada lifted their price target on Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. UBS Group lifted their target price 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. Needham & Company LLC raised their price target on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Raymond James set a $83.00 price objective on shares of Nutanix in a research note on Thursday, February 27th. Finally, Barclays set a $94.00 price objective on shares of Nutanix and gave the company an “overweight” rating 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.