Nutanix (NASDAQ:NTNX) Lowered to “Buy” Rating by StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Raymond James dropped their price target on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of 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 boosted their target price on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. UBS Group started coverage on Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Piper Sandler upped their price target on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.50.

Nutanix Stock Performance

Shares of NTNX stock opened at $69.74 on Friday. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of -199.26, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. Nutanix has a one year low of $43.35 and a one year high of $75.80. The company’s 50-day moving average is $66.24 and its 200 day moving average is $63.23.

Insider Buying and Selling at Nutanix

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the sale, the director now directly owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix 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 transaction, the chief executive officer now directly owns 649,034 shares in the company, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,917 shares of company stock valued at $12,114,781 in the last quarter. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC lifted its position in Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock valued at $40,000 after acquiring an additional 146 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock valued at $76,000 after purchasing an additional 146 shares during the last quarter. Freedom Investment Management Inc. boosted its position in shares of Nutanix by 4.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock worth $349,000 after buying an additional 188 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in Nutanix by 5.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company’s stock valued at $220,000 after buying an additional 196 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other 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.