Raymond James Cuts Nutanix (NASDAQ:NTNX) Price Target to $76.00

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

A number of other equities analysts have also recently issued reports on the company. StockNews.com upgraded Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Oppenheimer began coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Needham & Company LLC increased their target price on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley boosted their price target on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix has a consensus rating of “Moderate Buy” and an average target price of $78.87.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $65.14 on Friday. Nutanix has a one year low of $43.35 and a one year high of $75.80. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of -186.11, a PEG ratio of 10.19 and a beta of 1.16. The company’s fifty day moving average price is $66.11 and its 200-day moving average price is $60.53.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares of the company’s stock, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,065 shares of company stock valued at $5,405,141 over the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ORG Wealth Partners LLC bought a new stake in shares of Nutanix in the 3rd quarter worth $27,000. Larson Financial Group LLC raised its stake in Nutanix by 122.7% during the 3rd 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 last quarter. Advisors Asset Management Inc. raised its stake in Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Nutanix during the 2nd quarter valued at $32,000. Finally, Versant Capital Management Inc boosted its stake in shares of Nutanix by 587.7% in the 4th quarter. Versant Capital Management Inc now owns 729 shares of the technology company’s stock worth $45,000 after buying an additional 623 shares during 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.