Merit Financial Group LLC Makes New Investment in Nutanix, Inc. (NASDAQ:NTNX)

Merit Financial Group LLC acquired a new stake in shares of Nutanix, Inc. (NASDAQ:NTNX) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 6,515 shares of the technology company’s stock, valued at approximately $399,000.

A number of other large investors also recently modified their holdings of NTNX. Burney Co. lifted its stake in Nutanix by 18.3% in the fourth quarter. Burney Co. now owns 25,451 shares of the technology company’s stock worth $1,557,000 after purchasing an additional 3,941 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Nutanix by 111.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,138 shares of the technology company’s stock worth $70,000 after buying an additional 600 shares during the period. Accurate Wealth Management LLC lifted its stake in shares of Nutanix by 41.8% in the 4th quarter. Accurate Wealth Management LLC now owns 18,562 shares of the technology company’s stock valued at $1,155,000 after acquiring an additional 5,473 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Nutanix by 2.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 13,432 shares of the technology company’s stock valued at $822,000 after acquiring an additional 384 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Nutanix by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,257 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 329 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group started coverage on Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective for the company. Piper Sandler increased their price target on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Barclays boosted their price objective on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley raised their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded Nutanix from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.87.

Nutanix Price Performance

Shares of Nutanix stock opened at $64.69 on Friday. Nutanix, Inc. has a 1 year low of $43.35 and a 1 year high of $75.80. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of -184.83, a PEG ratio of 10.88 and a beta of 1.16. The company has a 50-day moving average of $65.61 and a 200 day moving average of $60.69.

Insider Buying and Selling at Nutanix

In related news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 in the company, valued at $2,934,210.90. This represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction on 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 transaction, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,065 shares of company stock valued at $5,405,141. Corporate insiders own 6.80% of the company’s stock.

Nutanix Company 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.