Brighton Jones LLC Buys Shares of 3,605 Nutanix (NASDAQ:NTNX)

Brighton Jones LLC bought a new stake in Nutanix (NASDAQ:NTNX) in the first quarter, HoldingsChannel reports. The fund bought 3,605 shares of the technology company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in shares of Nutanix by 2,612.5% in the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after purchasing an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Nutanix in the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after purchasing an additional 256 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock valued at $35,000 after purchasing an additional 199 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTNX. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Piper Sandler restated an “overweight” rating and issued a $88.00 price target (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Northland Capmk upgraded Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Royal Bank Of Canada upped their target price on Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company upped their price objective on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.38.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $73.59 on Thursday. The company has a market capitalization of $19.73 billion, a P/E ratio of -262.82, a P/E/G ratio of 6.69 and a beta of 0.69. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36. The business’s 50 day simple moving average is $72.70 and its 200 day simple moving average is $69.31.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the transaction, the chief financial officer now directly owns 209,070 shares in the company, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the transaction, the director now owns 5,480,468 shares of the company’s stock, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,558,364 shares of company stock valued at $427,057,406 over the last 90 days. 6.80% of the stock is owned by corporate insiders.

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.