Nutanix (NASDAQ:NTNX) Cut to “Buy” at StockNews.com

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

A number of other research analysts also recently weighed in on the stock. Northland Securities restated a “market perform” rating and set a $77.00 price target (up previously from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Wells Fargo & Company raised their target price on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Needham & Company LLC upped their price target on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley raised their price objective on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Oppenheimer initiated coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and an average price target of $78.87.

Nutanix Stock Performance

Shares of NTNX opened at $70.94 on Friday. The firm has a market cap of $19.01 billion, a PE ratio of -202.69, a PEG ratio of 11.26 and a beta of 1.17. The firm’s 50 day moving average price is $65.14 and its 200 day moving average price is $61.42. Nutanix has a twelve month low of $43.35 and a twelve month high of $75.80.

Insider Activity at Nutanix

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were 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 of the company’s stock, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,065 shares of company stock worth $5,405,141 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Several institutional investors have recently made changes to their positions in NTNX. Bain Capital Investors LLC acquired a new position in Nutanix in the third quarter worth about $998,601,000. Two Sigma Advisers LP grew its stake in shares of Nutanix by 32.8% in the 3rd 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. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Nutanix by 5,473.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,317 shares of the technology company’s stock worth $29,325,000 after buying an additional 470,717 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Nutanix by 235.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 544,516 shares of the technology company’s stock worth $33,313,000 after buying an additional 382,232 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Nutanix by 15.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after buying an additional 374,328 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.