Nutanix (NASDAQ:NTNX) Price Target Cut to $76.00 by Analysts at Raymond James

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

Other equities research analysts also recently issued reports about the company. Morgan Stanley increased their price target on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Oppenheimer started coverage on Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. UBS Group started coverage on shares of Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 target price for the company. Piper Sandler raised their price target on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.87.

Nutanix Trading Down 2.1 %

NTNX stock opened at $65.14 on Friday. Nutanix has a 12 month low of $43.35 and a 12 month high of $75.80. The stock has a market cap of $17.45 billion, a PE ratio of -186.11, a P/E/G ratio of 10.19 and a beta of 1.16. The company has a 50-day moving average price of $66.11 and a 200 day moving average price of $60.52.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares in the company, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold a total of 82,065 shares of company stock worth $5,405,141 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently made changes to their positions in the business. Bain Capital Investors LLC acquired a new stake in shares of Nutanix in the 3rd quarter worth $998,601,000. Champlain Investment Partners LLC raised its stake in Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after buying an additional 215,363 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after acquiring an additional 22,091 shares in the last quarter. 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. Finally, Two Sigma Advisers LP grew its stake in shares of Nutanix by 32.8% during 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 during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.