Nutanix (NASDAQ:NTNX) Raised to Strong-Buy at StockNews.com

Nutanix (NASDAQ:NTNXGet Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research analysts have also issued reports on NTNX. Wells Fargo & Company boosted their price objective on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Barclays boosted their price target on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. UBS Group started coverage on shares of Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 price objective on the stock. Oppenheimer started coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price for the company. Finally, Morgan Stanley raised their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus target price of $78.87.

Read Our Latest Research Report on NTNX

Nutanix Stock Down 0.7 %

Shares of NASDAQ NTNX opened at $64.69 on Friday. The firm’s 50-day moving average price is $65.51 and its two-hundred day moving average price is $60.73. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The stock has a market capitalization of $17.33 billion, a P/E ratio of -184.83, a P/E/G ratio of 10.88 and a beta of 1.16.

Insider Activity

In related news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the company’s 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 directly owns 45,330 shares in the company, valued at $2,934,210.90. This represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,065 shares of company stock worth $5,405,141 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nutanix

Large investors have recently modified their holdings of the stock. abrdn plc acquired a new stake in shares of Nutanix during the fourth quarter worth $233,000. Rheos Capital Works Inc. increased its stake in Nutanix by 32.0% in the 4th quarter. Rheos Capital Works Inc. now owns 132,000 shares of the technology company’s stock worth $8,076,000 after purchasing an additional 32,000 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Nutanix during the 4th quarter worth about $293,000. Caprock Group LLC purchased a new stake in Nutanix during the fourth quarter valued at about $209,000. Finally, Mediolanum International Funds Ltd purchased a new stake in Nutanix during the fourth quarter valued at about $2,258,000. 85.25% of the stock is owned by institutional investors.

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.

Recommended Stories

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.