Nutanix (NASDAQ:NTNX) Stock Rating Lowered by StockNews.com

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

Several other analysts have also commented on the company. Barclays raised their target price on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Wells Fargo & Company raised their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Raymond James cut their target price on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Needham & Company LLC increased their price target on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, UBS Group began coverage on shares of Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Nutanix currently has an average rating of “Moderate Buy” and a consensus price target of $79.50.

Nutanix Price Performance

NASDAQ NTNX opened at $69.74 on Friday. The company has a fifty day moving average of $66.31 and a 200 day moving average of $63.51. The company has a market capitalization of $18.69 billion, a PE ratio of -199.26, a P/E/G ratio of 11.80 and a beta of 1.17. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value 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 represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction that occurred on Monday, December 16th. The stock was 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 in the company, valued at approximately $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 ninety days, insiders sold 177,917 shares of company stock worth $12,114,781. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently modified their holdings of NTNX. Bain Capital Investors LLC acquired a new stake in shares of Nutanix during the 3rd quarter worth approximately $998,601,000. Norges Bank purchased a new stake in Nutanix in the fourth quarter valued at $195,758,000. Pictet Asset Management Holding SA grew its holdings in shares of Nutanix by 6,785.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock worth $130,885,000 after purchasing an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Nutanix during the 4th quarter worth about $91,639,000. Finally, Contour Asset Management LLC purchased a new stake in Nutanix in the 4th quarter valued at about $87,318,000. 85.25% of the stock is owned by institutional investors and hedge funds.

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.