Peregrine Asset Advisers Inc. has raised its position in Nutanix (NASDAQ: NTNX) by an impressive 20.5% during the second quarter of fiscal 2023. The asset management firm acquired an additional 12,954 shares, bringing its total holdings to 76,240 shares. This investment now represents approximately 1.8% of Peregrine’s overall portfolio, making Nutanix its 14th largest holding. According to the firm’s latest filing with the Securities and Exchange Commission, Peregrine’s stake in Nutanix is valued at $5,828,000.
Several other institutional investors have also adjusted their positions in Nutanix recently. Earned Wealth Advisors LLC increased its stake by 3.8%, now holding 3,915 shares worth approximately $299,000. Farther Finance Advisors LLC significantly raised its investment by 42.6% and now owns 502 shares valued at $38,000. Additionally, Aaron Wealth Advisors LLC and Concurrent Investment Advisors LLC also made notable increases to their holdings during this period.
Stock Performance and Analyst Insights
Shares of Nutanix traded up by 3.1% on Monday, opening at $71.24. The stock has fluctuated between a 12-month low of $54.66 and a high of $83.36, reflecting its volatility in the technology sector. Nutanix boasts a market capitalization of $19.15 billion and a price-to-earnings ratio of 111.31.
Analysts have expressed varied opinions on Nutanix’s stock. Weiss Ratings reaffirmed a “hold (c)” rating on October 8. Meanwhile, Bank of America reduced its target price from $95.00 to $93.00, maintaining a “buy” rating. Other firms like Needham & Company LLC and Barclays have also adjusted their target prices, with Needham lowering it to $80.00 and Barclays to $82.00. Currently, Nutanix holds a consensus rating of “Moderate Buy” with an average target price of $87.67, according to MarketBeat.
Recent Insider Activity
In related news, Director Teresa Gayle Sheppard sold 3,500 shares on October 2 at an average price of $76.48, totaling $267,680. This transaction reduced her ownership by 13.51%, bringing her total shares to 22,400, valued at approximately $1,713,152. Chief Financial Officer Rukmini Sivaraman also sold 11,391 shares on September 16 for $892,370.94, marking a 4.28% decrease in her ownership, with remaining shares valued at around $19.9 million.
Insider transactions have involved the sale of 159,598 shares worth about $12,218,560 over the past three months, indicating active management decisions within the company. Corporate insiders currently own 2.40% of Nutanix’s stock.
Nutanix, Inc. is a cloud computing company that provides a platform leveraging web-scale engineering and consumer-grade design. It operates across various geographic segments, including the United States, Europe, the Middle East, Africa, and Asia Pacific, offering software solutions and cloud services tailored to enterprise infrastructure.
As the technology sector continues to evolve, Nutanix remains a focal point for both investors and analysts, reflecting ongoing interest in cloud solutions and digital transformation initiatives.
