Cresset Asset Management LLC Reduces Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Cresset Asset Management LLC cut its stake in Nutanix, Inc. (NASDAQ:NTNX) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 118,974 shares of the technology company’s stock after selling 23,480 shares during the quarter. Cresset Asset Management LLC’s holdings in Nutanix were worth $7,279,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NTNX. Charles Schwab Investment Management Inc. boosted its position in shares of Nutanix by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company’s stock valued at $88,271,000 after purchasing an additional 33,980 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Nutanix by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after buying an additional 375 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Nutanix by 1,555.9% during the 4th quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company’s stock valued at $4,540,000 after buying an additional 69,722 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Nutanix in the 4th quarter worth about $299,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Nutanix by 3.5% in 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 in the last quarter. 85.25% of the stock is owned by institutional investors.

Insider Activity

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the completion of the sale, the director now directly owns 3,050 shares in the company, valued at $232,288. The trade was a 69.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the company’s 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 sale, the director now directly owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. The trade was a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,514,740 shares of company stock valued at $410,918,620 over the last three months. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Needham & Company LLC lifted their price objective on Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Oppenheimer increased their target price 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 Capmk upgraded Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nutanix presently has a consensus rating of “Buy” and an average target price of $87.85.

Nutanix Stock Performance

Shares of NASDAQ:NTNX opened at $73.70 on Thursday. The business has a 50-day simple moving average of $67.72 and a two-hundred day simple moving average of $67.15. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of -210.57, a price-to-earnings-growth ratio of 11.80 and a beta of 0.70. Nutanix, Inc. has a fifty-two week low of $43.35 and a fifty-two week high of $79.99.

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.