Pier 88 Investment Partners LLC Has $1.87 Million Stake in Nutanix, Inc. (NASDAQ:NTNX)

Pier 88 Investment Partners LLC grew its stake in shares of Nutanix, Inc. (NASDAQ:NTNX) by 75.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,910 shares of the technology company’s stock after buying an additional 14,160 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Nutanix were worth $1,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTNX. Victory Capital Management Inc. raised its position in shares of Nutanix by 30.1% during the fourth quarter. Victory Capital Management Inc. now owns 33,370 shares of the technology company’s stock worth $1,591,000 after acquiring an additional 7,720 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Nutanix in the 4th quarter worth approximately $570,000. Amalgamated Bank lifted its position in shares of Nutanix by 2.4% in the 4th quarter. Amalgamated Bank now owns 43,310 shares of the technology company’s stock worth $2,065,000 after purchasing an additional 997 shares during the period. M&T Bank Corp boosted its stake in shares of Nutanix by 3.6% in the 4th quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock valued at $442,000 after purchasing an additional 325 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Nutanix during the fourth quarter worth $2,933,000. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Down 4.4 %

Shares of NASDAQ:NTNX opened at $60.09 on Friday. The stock has a market cap of $14.82 billion, a PE ratio of -858.43, a price-to-earnings-growth ratio of 5.75 and a beta of 1.19. The stock’s fifty day simple moving average is $53.60 and its two-hundred day simple moving average is $58.89. Nutanix, Inc. has a 1-year low of $33.30 and a 1-year high of $73.69.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Piper Sandler boosted their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Raymond James lifted their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley upped their price objective on shares of Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.31.

Insider Activity

In other Nutanix news, CEO Rajiv Ramaswami sold 23,986 shares of Nutanix stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the transaction, the chief executive officer now owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the completion of the sale, the chief operating officer now owns 64,333 shares in the company, valued at $3,486,205.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the sale, the chief executive officer now owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The disclosure for this sale can be found here. Insiders sold a total of 46,936 shares of company stock worth $2,531,273 over the last quarter. Insiders own 0.46% of the company’s stock.

Nutanix Company Profile

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.