Nutanix (NASDAQ:NTNX) Upgraded by Northland Capmk to Strong-Buy Rating

Nutanix (NASDAQ:NTNX) was upgraded by equities researchers at Northland Capmk from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on NTNX. Piper Sandler raised their target price on Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $77.00 to $97.00 in a research report on Thursday. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Finally, Needham & Company LLC boosted their price objective on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $87.79.

Nutanix Price Performance

NTNX stock opened at $76.54 on Thursday. The business has a fifty day moving average price of $66.74 and a 200 day moving average price of $64.01. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $79.90. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of -218.69, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Activity at Nutanix

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the transaction, the chief executive officer now directly owns 540,463 shares in the company, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were 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 of the company’s stock, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,917 shares of company stock worth $12,114,781. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. increased its position in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after buying an additional 418 shares in the last quarter. Colonial Trust Co SC acquired a new position in Nutanix in the fourth quarter valued at about $28,000. Larson Financial Group LLC increased its holdings in shares of Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares in the last quarter. Allworth Financial LP raised its position in shares of Nutanix by 123.1% during the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after purchasing an additional 256 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. 85.25% of the stock is currently 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.