Nutanix (NASDAQ:NTNX) Price Target Cut to $76.00 by Analysts at Raymond James

Nutanix (NASDAQ:NTNX) had its target price trimmed by Raymond James from $83.00 to $76.00 in a research report report published on Friday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler increased their target price on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Barclays boosted their target price on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Northland Securities reaffirmed a “market perform” rating and issued a $77.00 price target (up previously from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Finally, Morgan Stanley boosted their price objective on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.87.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $65.14 on Friday. The firm’s fifty day moving average is $66.11 and its two-hundred day moving average is $60.52. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The company has a market cap of $17.45 billion, a P/E ratio of -186.11, a P/E/G ratio of 10.19 and a beta of 1.16.

Insider Activity at Nutanix

In other news, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction dated 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 sale, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 82,065 shares of company stock worth $5,405,141. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently bought and sold shares of the business. Versor Investments LP increased its holdings in shares of Nutanix by 211.7% in the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after acquiring an additional 22,652 shares during the period. Marshall Wace LLP boosted its position in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock valued at $84,308,000 after purchasing an additional 477,838 shares in the last quarter. Atreides Management LP purchased a new position in Nutanix in the third quarter valued at about $8,290,000. Two Sigma Advisers LP raised its holdings in Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after purchasing an additional 695,567 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Nutanix by 101.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock valued at $2,486,000 after buying an additional 21,086 shares during the last quarter. Institutional investors 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.