Nutanix (NASDAQ:NTNX) Lowered to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Nutanix (NASDAQ:NTNX) from a strong-buy rating to a buy rating in a report released on Friday.

Several other brokerages also recently issued reports on NTNX. Raymond James reduced their price target on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group started coverage on Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price on the stock. Northland Securities reissued a “market perform” rating and set a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Barclays upped their price objective on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Needham & Company LLC lifted their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.87.

Nutanix Stock Down 2.1 %

Shares of NTNX stock opened at $65.14 on Friday. The stock has a market cap of $17.45 billion, a P/E ratio of -186.11, a P/E/G ratio of 10.19 and a beta of 1.16. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $75.80. The business has a fifty day simple moving average of $66.11 and a 200-day simple moving average of $60.52.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the sale, the chief executive officer now directly owns 649,034 shares in the company, valued at $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the firm’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 position. The disclosure for this sale can be found here. Insiders sold 82,065 shares of company stock worth $5,405,141 over the last three months. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Large investors have recently modified their holdings of the stock. Versor Investments LP lifted its position in Nutanix by 211.7% during the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after acquiring an additional 22,652 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock valued at $84,308,000 after purchasing an additional 477,838 shares during the period. Atreides Management LP acquired a new position in shares of Nutanix during the third quarter worth $8,290,000. Two Sigma Advisers LP boosted its stake in shares of Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after purchasing an additional 695,567 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Nutanix by 101.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock valued at $2,486,000 after purchasing an additional 21,086 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.