Principal Financial Group Inc. Lowers Stock Holdings in Nutanix, Inc. (NASDAQ:NTNX)

Principal Financial Group Inc. reduced its stake in Nutanix, Inc. (NASDAQ:NTNX) by 7.7% during the third quarter, HoldingsChannel.com reports. The firm owned 17,490 shares of the technology company’s stock after selling 1,458 shares during the quarter. Principal Financial Group Inc.’s holdings in Nutanix were worth $1,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTNX. Bain Capital Investors LLC purchased a new stake in shares of Nutanix in the third quarter worth $998,601,000. Champlain Investment Partners LLC grew its position in Nutanix by 3.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after purchasing an additional 215,363 shares during the last quarter. Geode Capital Management LLC increased its stake in Nutanix by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after purchasing an additional 22,091 shares in the last quarter. Renaissance Technologies LLC increased its stake in Nutanix by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock valued at $212,548,000 after purchasing an additional 256,156 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after buying an additional 374,328 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Analysts Set New Price Targets

NTNX has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. StockNews.com raised Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Northland Securities reissued a “market perform” rating and issued a $77.00 target price (up previously from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. UBS Group began coverage on Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Piper Sandler boosted their target price on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.47.

Insiders Place Their Bets

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the completion of the sale, the chief financial officer now owns 190,882 shares in the company, valued at approximately $12,718,467.66. This represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,771 shares of company stock worth $5,387,045 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Nutanix Stock Performance

Shares of Nutanix stock opened at $62.68 on Friday. The stock’s fifty day moving average is $66.42 and its 200 day moving average is $59.89. Nutanix, Inc. has a one year low of $43.35 and a one year high of $75.80. The stock has a market cap of $16.79 billion, a P/E ratio of -179.09, a P/E/G ratio of 10.34 and a beta of 1.16.

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.