Alberta Investment Management Corp Makes New $4.04 Million Investment in Nutanix, Inc. (NASDAQ:NTNX)

Alberta Investment Management Corp purchased a new stake in Nutanix, Inc. (NASDAQ:NTNX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 66,000 shares of the technology company’s stock, valued at approximately $4,038,000.

Several other institutional investors have also made changes to their positions in the stock. Convergence Investment Partners LLC increased its stake in Nutanix by 70.4% during the 4th quarter. Convergence Investment Partners LLC now owns 45,732 shares of the technology company’s stock worth $2,798,000 after acquiring an additional 18,896 shares during the period. Kestra Investment Management LLC grew its holdings in shares of Nutanix by 59.3% during the 4th quarter. Kestra Investment Management LLC now owns 7,896 shares of the technology company’s stock worth $483,000 after purchasing an additional 2,938 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Nutanix by 97.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,591 shares of the technology company’s stock worth $97,000 after purchasing an additional 785 shares during the period. CIBC Asset Management Inc raised its stake in Nutanix by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after purchasing an additional 375 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in Nutanix by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company’s stock worth $593,000 after purchasing an additional 325 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the transaction, the director now directly owns 45,330 shares of the company’s stock, valued at $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at $37,832,410. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,917 shares of company stock valued at $12,114,781 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Nutanix Price Performance

Nutanix stock opened at $72.09 on Friday. The business has a 50 day moving average of $66.17 and a 200-day moving average of $63.17. The company has a market capitalization of $19.32 billion, a P/E ratio of -205.97, a P/E/G ratio of 11.82 and a beta of 1.17. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $75.80.

Analyst Upgrades and Downgrades

NTNX has been the subject of several analyst reports. Oppenheimer initiated coverage on shares of Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. Piper Sandler lifted their price objective 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. Wells Fargo & Company upped their target price on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Needham & Company LLC raised their target price on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Barclays boosted their price target on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.50.

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.