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

Nutanix (NASDAQ:NTNX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Several other equities research analysts also recently commented on the stock. UBS Group started coverage on shares of Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 target price for the company. Oppenheimer assumed coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Raymond James lowered their price objective on Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday. Northland Securities reaffirmed a “market perform” rating and set a $77.00 target price (up previously from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Finally, Barclays increased their price target on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.87.

Nutanix Trading Down 2.1 %

Shares of NTNX traded down $1.41 during trading hours on Friday, reaching $65.14. The stock had a trading volume of 1,613,567 shares, compared to its average volume of 1,834,295. The firm has a 50-day simple moving average of $66.11 and a 200 day simple moving average of $60.52. Nutanix has a 12 month low of $43.35 and a 12 month high of $75.80. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of -186.11, a P/E/G ratio of 10.19 and a beta of 1.16.

Insider Activity

In related 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 transaction, the chief financial officer now owns 190,882 shares in the company, valued at approximately $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 accessible through this link. Also, 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 approximately $42,738,888.90. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,065 shares of company stock valued at $5,405,141 in the last three months. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently added to or reduced their stakes in NTNX. Bain Capital Investors LLC purchased a new position in Nutanix in the third quarter worth $998,601,000. Driehaus Capital Management LLC boosted its position in shares of Nutanix by 123.9% during the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock valued at $81,593,000 after purchasing an additional 794,215 shares in the last quarter. Two Sigma Advisers LP grew its position 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 worth $166,730,000 after buying an additional 695,567 shares during the period. Marshall Wace LLP lifted its holdings 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 last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after acquiring an additional 374,328 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.