PNC Financial Services Group Inc. Sells 596 Shares of Nutanix, Inc. (NASDAQ:NTNX)

PNC Financial Services Group Inc. reduced its position in Nutanix, Inc. (NASDAQ:NTNX) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,400 shares of the technology company’s stock after selling 596 shares during the period. PNC Financial Services Group Inc.’s holdings in Nutanix were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Nutanix by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company’s stock worth $88,271,000 after acquiring an additional 33,980 shares during the last quarter. Atreides Management LP bought a new position in shares of Nutanix during the third quarter worth $8,290,000. CIBC Asset Management Inc boosted its position in shares of Nutanix by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock worth $453,000 after acquiring an additional 375 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Nutanix by 32.8% during the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after acquiring an additional 695,567 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of Nutanix by 10.2% during the third quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company’s stock worth $80,287,000 after acquiring an additional 125,657 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC upped their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Raymond James set a $83.00 target price on shares of Nutanix in a research report on Thursday, February 27th. Wells Fargo & Company increased their price objective on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their price objective on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $87.79.

Insider Activity

In other news, Director Virginia Gambale sold 6,060 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the sale, the director now owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the completion of the transaction, the director now directly owns 3,050 shares in the company, valued at $232,288. This represents a 69.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,609,206 shares of company stock valued at $417,458,120. 6.80% of the stock is currently owned by company insiders.

Nutanix Trading Up 0.7 %

Shares of NTNX opened at $73.04 on Friday. Nutanix, Inc. has a twelve month low of $43.35 and a twelve month high of $79.99. The company has a market cap of $19.48 billion, a P/E ratio of -208.69, a P/E/G ratio of 11.80 and a beta of 1.04. The company’s fifty day simple moving average is $69.52 and its 200-day simple moving average is $65.93.

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.