Nutanix (NASDAQ:NTNX) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Nutanix (NASDAQ:NTNXFree Report) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

NTNX has been the topic of a number of other research reports. Barclays increased their price objective on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Piper Sandler raised 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. Oppenheimer began coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Wells Fargo & Company increased their price objective on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley lifted their target price on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three equities 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $78.87.

View Our Latest Report on Nutanix

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $70.94 on Friday. The firm has a market capitalization of $19.01 billion, a PE ratio of -202.69, a P/E/G ratio of 11.26 and a beta of 1.17. Nutanix has a 1-year low of $43.35 and a 1-year high of $75.80. The business’s fifty day moving average price is $65.14 and its two-hundred day moving average price is $61.42.

Insider Activity

In other news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the sale, the director now directly owns 45,330 shares of the company’s stock, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 190,882 shares in the company, valued at $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. In the last quarter, insiders sold 82,065 shares of company stock worth $5,405,141. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Several large investors have recently added to or reduced their stakes in the company. Freedom Investment Management Inc. boosted its holdings in shares of Nutanix by 4.0% during the third 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 during the period. Principal Securities Inc. lifted its position in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after buying an additional 199 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Nutanix by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after buying an additional 233 shares during the period. Allworth Financial LP boosted its stake in shares of Nutanix by 123.1% during the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after buying an additional 256 shares during the period. Finally, Paragon Capital Management Inc. grew its holdings in shares of Nutanix by 1.0% during the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after acquiring an additional 258 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

Receive News & Ratings for Nutanix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix and related companies with MarketBeat.com's FREE daily email newsletter.