Raymond James Has Lowered Expectations for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its target price reduced by Raymond James from $83.00 to $76.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Raymond James’ price objective indicates a potential upside of 16.67% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. 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. Needham & Company LLC boosted their price target on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Piper Sandler raised their price objective on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Oppenheimer assumed coverage on Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.87.

Nutanix Stock Down 2.1 %

Nutanix stock opened at $65.14 on Friday. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The company 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. The business has a 50-day simple moving average of $66.11 and a two-hundred day simple moving average of $60.52.

Insider Activity at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,065 shares of company stock valued at $5,405,141. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bain Capital Investors LLC purchased a new stake in Nutanix during the third quarter valued at $998,601,000. Champlain Investment Partners LLC increased its holdings in shares of Nutanix by 3.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after buying an additional 215,363 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nutanix by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of 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 acquiring an additional 374,328 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after acquiring an additional 695,567 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.