Palumbo Wealth Management LLC Raises Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Palumbo Wealth Management LLC increased its position in shares of Nutanix, Inc. (NASDAQ:NTNX) by 38.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,382 shares of the technology company’s stock after purchasing an additional 1,496 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Nutanix were worth $329,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Bain Capital Investors LLC purchased a new stake in shares of Nutanix during the third quarter worth approximately $998,601,000. Champlain Investment Partners LLC increased its position in shares of Nutanix by 3.7% during 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 position in shares of Nutanix by 0.5% during 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 position in shares of Nutanix by 15.3% during 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 position in shares of Nutanix by 32.8% during 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 currently owned by hedge funds and other institutional investors.

Nutanix Trading Down 0.5 %

NTNX opened at $70.47 on Friday. The stock’s 50-day moving average price is $65.76 and its 200 day moving average price is $62.70. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $75.80. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of -201.34, a PEG ratio of 11.60 and a beta of 1.17.

Analyst Ratings Changes

Several analysts recently commented on NTNX shares. Barclays boosted their price target on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Northland Securities restated a “market perform” rating and issued a $77.00 target price (up from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Oppenheimer began coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. StockNews.com upgraded Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, UBS Group assumed coverage on Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price for the company. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and a consensus target price of $79.50.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the sale, the chief financial officer now owns 190,882 shares of the company’s stock, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, the chief executive officer now directly owns 540,463 shares in the company, valued at $37,832,410. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,917 shares of company stock valued at $12,114,781. 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.