Rakuten Securities Inc. Raises Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Rakuten Securities Inc. increased its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 3,544.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 911 shares of the technology company’s stock after purchasing an additional 886 shares during the quarter. Rakuten Securities Inc.’s holdings in Nutanix were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its stake in shares of Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock worth $349,000 after purchasing an additional 188 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Nutanix by 112.2% during the 4th quarter. Jupiter Asset Management Ltd. now owns 95,924 shares of the technology company’s stock worth $5,869,000 after purchasing an additional 50,724 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Nutanix by 408.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,226 shares of the technology company’s stock valued at $75,000 after buying an additional 985 shares in the last quarter. HighTower Advisors LLC acquired a new position in Nutanix during the 4th quarter valued at about $234,000. Finally, Wealthfront Advisers LLC acquired a new position in Nutanix during the 4th quarter valued at about $4,493,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTNX. Piper Sandler upped their target price on Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC upped their target price on Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada upped their target price on Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Wells Fargo & Company upped their target price on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their target price on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Stock Up 1.9 %

Nutanix stock opened at $67.77 on Thursday. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of -193.63, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $79.99. The business’s 50-day moving average price is $68.35 and its 200 day moving average price is $65.36.

Insider Buying and Selling

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total value of $409,805,000.00. Following the transaction, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,684,917 shares of company stock valued at $422,452,901 over the last ninety days. 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.