Exchange Traded Concepts LLC Buys 218 Shares of Nutanix, Inc. (NASDAQ:NTNX)

Exchange Traded Concepts LLC boosted its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,695 shares of the technology company’s stock after buying an additional 218 shares during the period. Exchange Traded Concepts LLC’s holdings in Nutanix were worth $2,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTNX. Yousif Capital Management LLC bought a new position in Nutanix during the 4th quarter valued at approximately $201,000. Asset Management One Co. Ltd. purchased a new position in shares of Nutanix in the fourth quarter worth $5,572,000. New York State Teachers Retirement System purchased a new position in shares of Nutanix in the fourth quarter worth $908,000. Rhumbline Advisers raised its stake in shares of Nutanix by 15.2% in the fourth quarter. Rhumbline Advisers now owns 626,894 shares of the technology company’s stock worth $38,353,000 after purchasing an additional 82,484 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Stock Performance

NASDAQ:NTNX opened at $72.40 on Tuesday. The stock has a 50-day simple moving average of $72.39 and a two-hundred day simple moving average of $69.25. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $83.36. The firm has a market capitalization of $19.41 billion, a PE ratio of -206.86, a P/E/G ratio of 11.80 and a beta of 0.69.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NTNX. Wall Street Zen cut Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Morgan Stanley restated an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Needham & Company LLC restated a “buy” rating and issued a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. Finally, Susquehanna boosted their price target on Nutanix from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and an average price target of $90.38.

Insider Activity

In related news, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the transaction, the director now owns 5,480,468 shares of the company’s stock, valued at $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total value of $4,823,503.00. Following the completion of the transaction, the chief executive officer now directly owns 497,309 shares in the company, valued at approximately $39,287,411. This trade represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,556,264 shares of company stock worth $426,904,673 over the last ninety days. Corporate 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.