Nutanix, Inc. (NASDAQ:NTNX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Nutanix, Inc. (NASDAQ:NTNX) has received an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $79.47.

NTNX has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com raised shares of Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. UBS Group started coverage on shares of Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 price target for the company. Needham & Company LLC increased their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Northland Securities restated a “market perform” rating and set a $77.00 target price (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th.

Insider Buying and Selling at Nutanix

In related news, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction on Monday, December 16th. The shares were sold at an average price of $65.85, for a total value of $4,207,880.85. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $392,263.80. Following the sale, the director now owns 45,330 shares of the company’s stock, valued at $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,771 shares of company stock worth $5,387,045 over the last three months. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently modified their holdings of the company. Freedom Investment Management Inc. grew its stake in shares of Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock worth $417,000 after buying an additional 233 shares during the period. Paragon Capital Management Inc. grew its position in shares of Nutanix by 1.0% in the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock worth $1,545,000 after buying an additional 258 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Stock Performance

Shares of NTNX opened at $62.17 on Wednesday. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The stock’s 50-day simple moving average is $66.42 and its 200 day simple moving average is $60.06. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of -177.63, a price-to-earnings-growth ratio of 10.34 and a beta of 1.16.

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.