StockNews.com Downgrades Nutanix (NASDAQ:NTNX) to Buy

Nutanix (NASDAQ:NTNX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

A number of other research firms also recently weighed in on NTNX. Oppenheimer initiated coverage on Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. Barclays upped their target price on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Northland Securities restated a “market perform” rating and issued a $77.00 target price (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. UBS Group initiated coverage on Nutanix in a research report on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price for the company. Finally, Needham & Company LLC upped their price target on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Nutanix has a consensus rating of “Moderate Buy” and an average price target of $78.87.

Nutanix Price Performance

NTNX opened at $68.77 on Friday. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of -196.49, a price-to-earnings-growth ratio of 11.26 and a beta of 1.17. Nutanix has a 1-year low of $43.35 and a 1-year high of $75.80. The business has a 50 day moving average price of $65.22 and a two-hundred day moving average price of $61.27.

Insider Buying and Selling at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 649,034 shares in the company, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,065 shares of company stock valued at $5,405,141 in the last three months. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently modified their holdings of the stock. Bain Capital Investors LLC bought a new stake in Nutanix in the third quarter worth $998,601,000. Champlain Investment Partners LLC boosted its holdings in Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after purchasing an additional 215,363 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after purchasing an additional 22,091 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after purchasing an additional 374,328 shares in the last quarter. Finally, Two Sigma Advisers LP boosted 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. 85.25% of the stock is owned by institutional investors and hedge funds.

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.