Connor Clark & Lunn Investment Management Ltd. Has $50.67 Million Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Nutanix, Inc. (NASDAQ:NTNX) by 20.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 828,221 shares of the technology company’s stock after selling 215,280 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nutanix were worth $50,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bain Capital Investors LLC purchased a new stake in Nutanix in the 3rd quarter valued at about $998,601,000. Champlain Investment Partners LLC increased its stake in Nutanix by 3.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after buying an additional 215,363 shares during the last quarter. Geode Capital Management LLC increased its stake in Nutanix by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Nutanix by 15.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after buying an additional 374,328 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Nutanix by 32.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after buying an additional 695,567 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $67.77 on Thursday. The firm has a fifty day moving average price of $68.35 and a two-hundred day moving average price of $65.36. Nutanix, Inc. has a one year low of $43.35 and a one year high of $79.99. The company has a market cap of $18.16 billion, a price-to-earnings ratio of -193.63, a PEG ratio of 11.80 and a beta of 1.04.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NTNX shares. Piper Sandler increased their price objective on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Wells Fargo & Company increased their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. UBS Group increased their target price on shares of Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley increased their target price on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Nutanix has a consensus rating of “Buy” and an average target price of $87.79.

Insider Buying and Selling at Nutanix

In other news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the sale, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the sale, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,684,917 shares of company stock valued at $422,452,901 in the last three months. Company 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.