Nutanix (NASDAQ:NTNX) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Nutanix (NASDAQ:NTNX) from a strong-buy rating to a buy rating in a research report report published on Friday.

A number of other research firms have also weighed in on NTNX. Raymond James reduced their price objective on Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Morgan Stanley raised their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler boosted their price target on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Needham & Company LLC increased their target price on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Barclays increased their price objective on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.50.

Nutanix Stock Down 3.3 %

Shares of NASDAQ NTNX opened at $69.74 on Friday. The business’s 50 day moving average price is $66.24 and its 200 day moving average price is $63.23. The firm has a market cap of $18.69 billion, a P/E ratio of -199.26, a P/E/G ratio of 11.80 and a beta of 1.17. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the sale, the chief executive officer now directly owns 649,034 shares of the company’s stock, valued at $42,738,888.90. The trade was a 8.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction dated 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. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,917 shares of company stock valued at $12,114,781. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently made changes to their positions in the business. Bain Capital Investors LLC bought a new position in shares of Nutanix in the third quarter worth approximately $998,601,000. Norges Bank purchased a new stake in Nutanix during the 4th quarter valued at about $195,758,000. Pictet Asset Management Holding SA lifted its stake in shares of Nutanix by 6,785.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock worth $130,885,000 after buying an additional 2,108,269 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Nutanix in the fourth quarter worth approximately $91,639,000. Finally, Contour Asset Management LLC purchased a new position in shares of Nutanix during the fourth quarter worth $87,318,000. 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.