Nutanix (NASDAQ:NTNX) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Nutanix (NASDAQ:NTNX) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $81.00 price objective on the technology company’s stock.

NTNX has been the topic of a number of other reports. Needham & Company LLC lifted their target price on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Raymond James upped their target price on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler lifted their price target on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada raised their price target on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Oppenheimer initiated coverage on shares of Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nutanix has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Nutanix Price Performance

Shares of NTNX stock opened at $66.05 on Thursday. Nutanix has a one year low of $43.35 and a one year high of $75.80. The firm has a 50-day moving average of $66.23 and a 200-day moving average of $59.05. The company has a market cap of $17.52 billion, a P/E ratio of -188.71, a P/E/G ratio of 10.14 and a beta of 1.13.

Insider Activity at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. The trade was a 8.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently modified their holdings of the company. Versor Investments LP grew 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 valued at $1,976,000 after purchasing an additional 22,652 shares in the last quarter. Marshall Wace LLP grew its stake in shares of 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 buying an additional 477,838 shares during the last quarter. Atreides Management LP purchased a new stake in shares of Nutanix during the third quarter valued at $8,290,000. Resolute Capital Asset Partners LLC bought a new stake in shares of Nutanix during the second quarter valued at approximately $2,274,000. Finally, Two Sigma Advisers LP increased its stake in shares of Nutanix by 32.8% during the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after buying an additional 695,567 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.