Convergence Investment Partners LLC Has $621,000 Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Convergence Investment Partners LLC grew its position in Nutanix, Inc. (NASDAQ:NTNX) by 29.6% during the 4th quarter, HoldingsChannel reports. The firm owned 13,025 shares of the technology company’s stock after purchasing an additional 2,973 shares during the quarter. Convergence Investment Partners LLC’s holdings in Nutanix were worth $621,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Nutanix during the fourth quarter worth $30,000. BluePath Capital Management LLC bought a new stake in shares of Nutanix during the third quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new position in Nutanix in the fourth quarter valued at $40,000. Fifth Third Bancorp bought a new position in Nutanix in the fourth quarter valued at $62,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Nutanix in the third quarter valued at $107,000. Institutional investors own 85.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NTNX. Royal Bank of Canada raised their target price on shares of Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. William Blair raised shares of Nutanix from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 17th. Susquehanna lifted their price objective on shares of Nutanix from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. JMP Securities lifted their price objective on shares of Nutanix from $50.00 to $70.00 and gave the company a “market outperform” rating in a research report on Monday, February 5th. Finally, KeyCorp lifted their price objective on shares of Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Nutanix presently has a consensus rating of “Moderate Buy” and an average price target of $65.17.

Nutanix Price Performance

Nutanix stock traded up $0.77 during midday trading on Friday, hitting $61.66. The company’s stock had a trading volume of 1,164,365 shares, compared to its average volume of 2,061,894. Nutanix, Inc. has a 1-year low of $23.34 and a 1-year high of $66.99. The company has a 50-day moving average price of $62.18 and a two-hundred day moving average price of $51.55. The company has a market cap of $15.07 billion, a price-to-earnings ratio of -171.28 and a beta of 1.29.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The business had revenue of $565.23 million during the quarter, compared to analyst estimates of $551.82 million. Sell-side analysts forecast that Nutanix, Inc. will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 12,545 shares of Nutanix stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $63.04, for a total value of $790,836.80. Following the completion of the sale, the chief operating officer now owns 70,192 shares in the company, valued at approximately $4,424,903.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rajiv Ramaswami sold 23,932 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.05, for a total value of $1,508,912.60. Following the completion of the transaction, the chief executive officer now directly owns 373,024 shares in the company, valued at approximately $23,519,163.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Sangster sold 12,545 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the transaction, the chief operating officer now owns 70,192 shares of the company’s stock, valued at $4,424,903.68. The disclosure for this sale can be found here. Insiders sold 129,506 shares of company stock worth $8,270,938 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.