Cullen Frost Bankers Inc. Cuts Stock Position in Nutanix, Inc. (NASDAQ:NTNX)

Cullen Frost Bankers Inc. lowered its position in Nutanix, Inc. (NASDAQ:NTNX) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,914 shares of the technology company’s stock after selling 1,146 shares during the period. Cullen Frost Bankers Inc.’s holdings in Nutanix were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Freedom Investment Management Inc. boosted its stake in Nutanix by 4.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares in the last quarter. Principal Securities Inc. boosted its stake in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after purchasing an additional 199 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock worth $417,000 after purchasing an additional 233 shares in the last quarter. Allworth Financial LP boosted its stake in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

NASDAQ:NTNX opened at $70.41 on Friday. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of -201.17, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The company has a 50 day moving average price of $68.06 and a 200-day moving average price of $65.08. Nutanix, Inc. has a 1-year low of $43.35 and a 1-year high of $79.99.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays set a $94.00 target price on shares of Nutanix and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Northland Capmk upgraded shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their price objective on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $87.79.

Insider Activity

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the transaction, the director now owns 3,050 shares of the company’s stock, valued at $232,288. This represents a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,684,917 shares of company stock valued at $422,452,901 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

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.