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

Nutanix (NASDAQ:NTNX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities analysts have also recently weighed in on NTNX. Morgan Stanley increased their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Northland Securities reissued a “market perform” rating and set a $77.00 price target (up from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Oppenheimer began coverage on shares of Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. UBS Group began coverage on Nutanix in a research report on Thursday, December 12th. They issued a “buy” rating and a $81.00 price target for the company. Finally, Raymond James reduced their price target on Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.87.

Nutanix Price Performance

Shares of Nutanix stock traded down $1.41 during trading on Friday, hitting $65.14. 1,613,567 shares of the company’s stock traded hands, compared to its average volume of 1,834,295. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80. The business has a 50-day simple moving average of $66.11 and a 200-day simple moving average of $60.52. The stock has a market capitalization of $17.45 billion, a P/E ratio of -186.11, a PEG ratio of 10.19 and a beta of 1.16.

Insider Buying and Selling at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $392,263.80. Following the completion of the transaction, the director now owns 45,330 shares in the company, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,065 shares of company stock valued at $5,405,141. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nutanix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Freedom Investment Management Inc. lifted its holdings in Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after buying an additional 151 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Nutanix by 3.4% during the third 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 in the last quarter. Paragon Capital Management Inc. increased its holdings in shares of Nutanix by 1.0% in the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after buying an additional 258 shares in the last quarter. Larson Financial Group LLC increased its stake in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors 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.