Jericho Capital Asset Management L.P. Sells 962,367 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Jericho Capital Asset Management L.P. trimmed its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 25.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,794,636 shares of the technology company’s stock after selling 962,367 shares during the quarter. Nutanix makes up 2.4% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 15th largest position. Jericho Capital Asset Management L.P. owned approximately 1.04% of Nutanix worth $170,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NTNX. Wilmington Savings Fund Society FSB bought a new stake in shares of Nutanix during the third quarter valued at approximately $111,000. Tidal Investments LLC lifted its holdings in shares of Nutanix by 4.0% during the third quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 862 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Nutanix by 587.7% during the 4th quarter. Versant Capital Management Inc now owns 729 shares of the technology company’s stock valued at $45,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC raised its stake in Nutanix by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 1,691 shares of the technology company’s stock valued at $103,000 after buying an additional 332 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in Nutanix in the fourth quarter worth about $451,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Price Performance

NTNX opened at $67.89 on Tuesday. The stock has a market capitalization of $18.10 billion, a PE ratio of -193.97, a P/E/G ratio of 11.80 and a beta of 0.84. The firm’s fifty day moving average price is $67.74 and its 200 day moving average price is $66.84. Nutanix, Inc. has a 12-month low of $43.35 and a 12-month high of $79.99.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 540,463 shares in the company, valued at $37,832,410. This represents a 15.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the completion of the transaction, the director now owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,610,592 shares of company stock valued at $417,628,260. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NTNX shares. Northland Capmk raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. UBS Group increased their price objective on shares of Nutanix from $81.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on shares of Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Royal Bank of Canada boosted their price target on Nutanix from $83.00 to $95.00 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 investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nutanix has an average rating of “Buy” and a consensus price target of $87.85.

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.