Peregrine Asset Advisers Inc. has increased its holdings in Nutanix (NASDAQ: NTNX) by an impressive 20.5% during the second quarter of 2023. According to data from HoldingsChannel, Peregrine now owns 76,240 shares of the technology company’s stock after purchasing an additional 12,954 shares. This investment represents approximately 1.8% of Peregrine’s overall investment portfolio, positioning Nutanix as its 14th largest holding. As of the latest filing with the Securities and Exchange Commission (SEC), Peregrine’s holdings in Nutanix are valued at $5,828,000.
Several other institutional investors have also made adjustments to their positions in Nutanix. Earned Wealth Advisors LLC raised its stake by 3.8%, now holding 3,915 shares valued at $299,000. Farther Finance Advisors LLC significantly increased their holdings by 42.6%, acquiring 502 shares worth $38,000. Aaron Wealth Advisors LLC and Concurrent Investment Advisors LLC also boosted their investments in Nutanix, reflecting the growing interest among institutional investors. Currently, hedge funds and other institutional investors own approximately 85.25% of Nutanix’s stock.
Nutanix Stock Performance
On Monday, shares of Nutanix opened at $71.24, showing a 3.1% increase. Over the past year, the stock has seen a low of $54.66 and a high of $83.36. With a market capitalization of $19.15 billion, Nutanix has a price-to-earnings (P/E) ratio of 111.31 and a P/E to growth (P/E/G) ratio of 6.55. The stock’s fifty-day moving average price stands at $72.03, while the 200-day moving average is $73.08.
Analysts have been closely monitoring Nutanix, with multiple reports recently published. Weiss Ratings reaffirmed a “hold (c)” rating on October 8, 2023. Meanwhile, Bank of America lowered its target price from $95.00 to $93.00 while maintaining a “buy” rating. Needham & Company LLC and Barclays also adjusted their target prices, with Needham reducing it from $92.00 to $80.00, and Barclays lowering theirs from $94.00 to $82.00. Currently, Nutanix enjoys a consensus rating of “Moderate Buy” with an average target price of $87.67, according to MarketBeat.
Insider Activity and Corporate Governance
Recent insider trading activity includes sales by Director Teresa Gayle Sheppard, who sold 3,500 shares on October 2, 2023, at an average price of $76.48, totaling $267,680. Following this transaction, Sheppard’s ownership in Nutanix decreased by 13.51%, leaving her with 22,400 shares valued at $1,713,152. Additionally, Chief Financial Officer Rukmini Sivaraman sold 11,391 shares on September 16, 2023, at an average price of $78.34, amounting to $892,370.94. Post-sale, Sivaraman retains 254,637 shares worth approximately $19,948,262.58, reflecting a 4.28% decrease in her holdings.
In total, insiders have sold 159,598 shares valued at $12,218,560 over the past ninety days, with corporate insiders owning 2.40% of the company’s stock.
Nutanix operates as a cloud platform provider, leveraging web-scale engineering and consumer-grade design. The company serves a diverse array of geographic segments, including the United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas, offering software solutions and cloud services that enhance enterprise infrastructure.
For those interested in tracking Nutanix’s ongoing developments, information on hedge fund holdings and insider trades can be accessed through HoldingsChannel.com, which provides comprehensive data on 13F filings and corporate governance activities.
