Acorn Financial Advisory Services Inc. ADV Decreases Stake in Nutanix, Inc. (NASDAQ:NTNX)

Acorn Financial Advisory Services Inc. ADV reduced its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,987 shares of the technology company’s stock after selling 2,054 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Nutanix were worth $489,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Nutanix by 2.4% in 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 during the period. CIBC Asset Management Inc increased its holdings in Nutanix by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock worth $453,000 after buying an additional 375 shares during the period. Pacer Advisors Inc. raised its position in Nutanix by 1,555.9% during the 4th quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company’s stock worth $4,540,000 after buying an additional 69,722 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Nutanix in the 4th quarter valued at $299,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Nutanix by 3.5% in the fourth quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company’s stock worth $593,000 after acquiring an additional 325 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 directly owns 11,354,032 shares of the company’s stock, valued at approximately $845,988,924.32. This trade represents a 32.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,610,592 shares of company stock valued at $417,628,260. 6.80% of the stock is currently owned by insiders.

Nutanix Stock Up 3.2 %

Shares of Nutanix stock opened at $70.91 on Friday. The firm’s 50 day moving average is $67.70 and its two-hundred day moving average is $66.91. Nutanix, Inc. has a 52 week low of $43.35 and a 52 week high of $79.99. The firm has a market capitalization of $18.91 billion, a P/E ratio of -202.60, a P/E/G ratio of 11.80 and a beta of 0.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NTNX shares. Piper Sandler reduced their price objective on Nutanix from $88.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $77.00 to $97.00 in a research report on Thursday, February 27th. StockNews.com lowered Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company boosted their price target on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.