Polymer Capital Management US LLC Buys New Position in Nutanix, Inc. (NASDAQ:NTNX)

Polymer Capital Management US LLC purchased a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) in the 4th quarter, HoldingsChannel reports. The firm purchased 4,599 shares of the technology company’s stock, valued at approximately $281,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its position in shares of Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after buying an additional 418 shares during the period. Allworth Financial LP boosted its position in Nutanix by 123.1% during the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after acquiring an additional 256 shares during the last quarter. Principal Securities Inc. boosted its position in 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. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Nutanix during the 4th quarter worth about $40,000. Finally, Larson Financial Group LLC raised its position in shares of Nutanix by 28.6% in the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock worth $40,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Insider Transactions at Nutanix

In related news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, February 28th. The stock was 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 of the company’s stock, valued at approximately $232,288. This represents a 69.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 540,463 shares in the company, valued at approximately $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,610,886 shares of company stock valued at $417,646,356 over the last ninety days. 6.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NTNX. Piper Sandler raised 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. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Oppenheimer increased their target price on shares of Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Raymond James set a $83.00 price target on shares of Nutanix in a research note on Thursday, February 27th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $58.62 on Tuesday. The stock has a market cap of $15.63 billion, a price-to-earnings ratio of -167.49, a PEG ratio of 11.80 and a beta of 0.84. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The firm’s 50-day simple moving average is $70.44 and its 200 day simple moving average is $66.70.

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.