Nutanix (NASDAQ:NTNX) Raised to “Strong-Buy” at StockNews.com

Nutanix (NASDAQ:NTNX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Several other research firms have also recently issued reports on NTNX. Barclays raised their target price on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Raymond James decreased their target price on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Northland Securities reissued 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. Piper Sandler raised their target price on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company raised their target price on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.50.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $70.47 on Thursday. The company has a 50-day simple moving average of $65.71 and a 200-day simple moving average of $62.46. Nutanix has a 12 month low of $43.35 and a 12 month high of $75.80. The company has a market cap of $18.88 billion, a PE ratio of -201.34, a price-to-earnings-growth ratio of 11.60 and a beta of 1.17.

Insider Transactions at Nutanix

In related news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, the chief executive officer now owns 540,463 shares in the company, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Virginia Gambale sold 6,060 shares of Nutanix 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 completion of the sale, the director now 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,917 shares of company stock valued at $12,114,781. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Several institutional investors have recently added to or reduced their stakes in NTNX. Harbour Investments Inc. increased its holdings in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after acquiring an additional 418 shares during the period. Larson Financial Group LLC increased its holdings in shares of Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares during the period. Allworth Financial LP increased its holdings in shares of Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after acquiring an additional 256 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after acquiring an additional 321 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after acquiring an additional 199 shares during the period. Institutional investors own 85.25% of the company’s stock.

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.