Nutanix (NASDAQ:NTNX) Upgraded to “Outperform” at Northland Securities

Northland Securities upgraded shares of Nutanix (NASDAQ:NTNX) from a market perform rating to an outperform rating in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has $97.00 price objective on the technology company’s stock, up from their previous price objective of $77.00.

NTNX has been the subject of several other research reports. Oppenheimer started coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target for the company. UBS Group began coverage on Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 price objective for the company. Barclays set a $94.00 price objective on Nutanix and gave the company an “overweight” rating in a research note on Thursday. Raymond James set a $83.00 price objective on Nutanix in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.79.

Nutanix Trading Up 10.4 %

Shares of Nutanix stock opened at $76.54 on Thursday. The stock has a fifty day simple moving average of $66.74 and a 200 day simple moving average of $64.01. Nutanix has a 12-month low of $43.35 and a 12-month high of $79.90. The company has a market capitalization of $20.51 billion, a P/E ratio of -218.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the sale, the director now 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 at this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 177,917 shares of company stock valued at $12,114,781. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Nutanix by 28.6% during the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock valued at $40,000 after buying an additional 146 shares in the last quarter. True Wealth Design LLC raised 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 buying an additional 146 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in shares of Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after buying an additional 151 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of Nutanix by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company’s stock valued at $2,134,000 after buying an additional 159 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock valued at $349,000 after buying an additional 188 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.