Nutanix (NASDAQ:NTNX) Downgraded 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 report released on Friday morning.

Several other research firms have also recently commented on NTNX. Raymond James lowered their price target on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Piper Sandler boosted their target price 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. Morgan Stanley raised their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, UBS Group began coverage on Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Nutanix has an average rating of “Moderate Buy” and an average target price of $78.87.

Nutanix Trading Down 2.1 %

NASDAQ:NTNX opened at $65.14 on Friday. The stock has a fifty day moving average price of $66.11 and a 200 day moving average price of $60.52. Nutanix has a 12-month low of $43.35 and a 12-month high of $75.80. The firm has a market cap of $17.45 billion, a PE ratio of -186.11, a price-to-earnings-growth ratio of 10.19 and a beta of 1.16.

Insider Activity at Nutanix

In other news, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This trade represents a 11.79 % 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 in the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

Hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in shares of Nutanix in the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC lifted its holdings in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after acquiring an additional 281 shares during the period. Advisors Asset Management Inc. lifted its holdings in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Nutanix during the 2nd quarter worth $32,000. Finally, Versant Capital Management Inc grew its stake in shares of Nutanix by 587.7% during the 4th quarter. Versant Capital Management Inc now owns 729 shares of the technology company’s stock worth $45,000 after purchasing an additional 623 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.