Canada Pension Plan Investment Board Sells 45,800 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Canada Pension Plan Investment Board reduced its holdings in shares of Nutanix, Inc. (NASDAQ:NTNX) by 12.1% during the fourth quarter, HoldingsChannel reports. The firm owned 333,400 shares of the technology company’s stock after selling 45,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Nutanix were worth $20,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Nutanix during the 4th quarter valued at about $195,758,000. Pictet Asset Management Holding SA lifted its holdings in shares of Nutanix by 6,785.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock valued at $130,885,000 after buying an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Nutanix in the 4th quarter worth $91,639,000. Raymond James Financial Inc. purchased a new stake in Nutanix during the fourth quarter valued at $86,824,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Nutanix by 5,473.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,317 shares of the technology company’s stock valued at $29,325,000 after acquiring an additional 470,717 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Trading Down 0.4 %

Shares of NTNX stock opened at $61.63 on Friday. The stock’s 50-day moving average price is $68.62 and its 200-day moving average price is $66.74. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $79.99. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of -176.09, a price-to-earnings-growth ratio of 11.80 and a beta of 0.84.

Insiders Place Their Bets

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the sale, the director now owns 11,354,032 shares in the company, valued at approximately $845,988,924.32. The trade was a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 7,740 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $75.00, for a total transaction of $580,500.00. Following the transaction, the chief executive officer now owns 558,366 shares of the company’s stock, valued at $41,877,450. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,592 shares of company stock valued at $417,628,260 in the last quarter. 6.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Royal Bank of Canada boosted their price objective on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. UBS Group lifted their target price on Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Oppenheimer raised their price objective on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $87.85.

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.