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

Alberta Investment Management Corp acquired a new position in shares of Nutanix, Inc. (NASDAQ:NTNX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 66,000 shares of the technology company’s stock, valued at approximately $4,038,000.

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

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now directly owns 649,034 shares in the company, valued at $42,738,888.90. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,917 shares of company stock valued at $12,114,781. Company insiders own 6.80% of the company’s stock.

Nutanix Price Performance

NTNX stock opened at $72.09 on Friday. Nutanix, Inc. has a one year low of $43.35 and a one year high of $75.80. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of -205.97, a price-to-earnings-growth ratio of 11.82 and a beta of 1.17. The company has a fifty day moving average price of $66.17 and a two-hundred day moving average price of $63.17.

Analysts Set New Price Targets

A number of analysts have recently commented on NTNX shares. Northland Securities reissued a “market perform” rating and issued a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday. Piper Sandler raised their price objective on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Morgan Stanley upped their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company raised their price target on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.50.

About Nutanix

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.