Nutanix (NASDAQ:NTNX) Cut to Buy at StockNews.com

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

NTNX has been the subject of several other reports. Northland Securities restated a “market perform” rating and set a $77.00 price objective (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Raymond James cut their price target on Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Needham & Company LLC increased their price objective on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. UBS Group assumed coverage on shares of Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price for the company. Finally, Piper Sandler raised their price target on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.87.

Nutanix Trading Down 2.1 %

Shares of NTNX opened at $65.14 on Friday. Nutanix has a twelve month low of $43.35 and a twelve month high of $75.80. The firm has a market capitalization of $17.45 billion, a P/E ratio of -186.11, a PEG ratio of 10.19 and a beta of 1.16. The firm’s 50-day moving average is $66.11 and its two-hundred day moving average is $60.53.

Insider Buying and Selling at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’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 owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the sale, the director now directly owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,065 shares of company stock valued at $5,405,141. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTNX. Commonwealth Equity Services LLC lifted its position in Nutanix by 5.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,759 shares of the technology company’s stock worth $612,000 after acquiring an additional 577 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Nutanix by 24.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,698 shares of the technology company’s stock valued at $265,000 after purchasing an additional 924 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Nutanix by 44.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 189,712 shares of the technology company’s stock worth $10,785,000 after purchasing an additional 58,661 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nutanix by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 901,923 shares of the technology company’s stock valued at $51,270,000 after purchasing an additional 122,505 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in Nutanix by 5.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 14,500 shares of the technology company’s stock valued at $824,000 after purchasing an additional 724 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.