StockNews.com Downgrades Nutanix (NASDAQ:NTNX) to Buy

Nutanix (NASDAQ:NTNX) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their target price on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Raymond James decreased their price target on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Oppenheimer assumed coverage on shares of Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Northland Securities reissued a “market perform” rating and issued a $77.00 price target (up from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price target on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.50.

Nutanix Stock Up 0.0 %

Shares of NASDAQ NTNX opened at $72.09 on Friday. The company’s 50-day simple moving average is $66.17 and its 200-day simple moving average is $63.17. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of -205.97, a price-to-earnings-growth ratio of 11.82 and a beta of 1.17.

Insiders Place Their Bets

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 45,330 shares in the company, valued at $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. Insiders have sold 177,917 shares of company stock valued at $12,114,781 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of institutional investors and hedge funds have recently made changes to their positions in NTNX. Creative Planning raised its stake in shares of Nutanix by 26.5% in the 3rd quarter. Creative Planning now owns 13,862 shares of the technology company’s stock valued at $821,000 after acquiring an additional 2,907 shares during the period. Blue Trust Inc. grew its holdings in shares of Nutanix by 782.7% in the third quarter. Blue Trust Inc. now owns 2,039 shares of the technology company’s stock valued at $116,000 after purchasing an additional 1,808 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Nutanix by 101.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock valued at $2,486,000 after purchasing an additional 21,086 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Nutanix by 57.8% in the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after purchasing an additional 350 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Nutanix by 5,859.5% in the third quarter. International Assets Investment Management LLC now owns 81,884 shares of the technology company’s stock valued at $4,852,000 after purchasing an additional 80,510 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.