Nutanix (NASDAQ:NTNX) Upgraded at StockNews.com

StockNews.com upgraded shares of Nutanix (NASDAQ:NTNX) from a buy rating to a strong-buy rating in a research note released on Thursday morning.

Other analysts have also issued reports about 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 target on the stock. Oppenheimer initiated coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price on the stock. Barclays increased their target price on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.50.

Nutanix Trading Up 0.8 %

NTNX stock opened at $70.81 on Thursday. Nutanix has a 12-month low of $43.35 and a 12-month high of $75.80. The business’s 50-day moving average is $65.66 and its 200 day moving average is $62.40. The stock has a market cap of $18.97 billion, a price-to-earnings ratio of -202.31, a PEG ratio of 11.60 and a beta of 1.17.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction 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 $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 45,330 shares in the company, valued at $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. Over the last three months, insiders have sold 177,917 shares of company stock worth $12,114,781. Insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP boosted its position in shares of Nutanix by 211.7% during the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after buying an additional 22,652 shares during the period. Atreides Management LP acquired a new position in Nutanix during the 3rd quarter worth about $8,290,000. Two Sigma Advisers LP boosted its holdings in Nutanix by 32.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after acquiring an additional 695,567 shares during the period. Allspring Global Investments Holdings LLC grew its position in Nutanix by 101.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock valued at $2,486,000 after acquiring an additional 21,086 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Nutanix by 10.2% during the third quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company’s stock worth $80,287,000 after purchasing an additional 125,657 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Company Profile

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.