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

Nutanix, Inc. (NASDAQ:NTNX) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $73.31.

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. KeyCorp upped their target price on Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Royal Bank of Canada boosted their price objective on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Northland Capmk lowered Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley boosted their price target on shares of Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th.

Insider Activity

In related news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the completion of the transaction, the chief operating officer now owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Rajiv Ramaswami sold 23,986 shares of Nutanix stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $1,299,801.34. Following the transaction, the chief executive officer now owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Sangster sold 10,384 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the sale, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,936 shares of company stock worth $2,531,273. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Nutanix by 7,970.6% during the fourth quarter. International Assets Investment Management LLC now owns 103,869 shares of the technology company’s stock valued at $4,954,000 after purchasing an additional 102,582 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Nutanix by 30.1% in the fourth quarter. Victory Capital Management Inc. now owns 33,370 shares of the technology company’s stock worth $1,591,000 after buying an additional 7,720 shares during the period. New York Life Investment Management LLC increased its position in shares of Nutanix by 3.8% in the fourth quarter. New York Life Investment Management LLC now owns 26,726 shares of the technology company’s stock worth $1,275,000 after acquiring an additional 986 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Nutanix during the fourth quarter valued at approximately $570,000. Finally, Amalgamated Bank lifted its position in shares of Nutanix by 2.4% in the 4th quarter. Amalgamated Bank now owns 43,310 shares of the technology company’s stock valued at $2,065,000 after acquiring an additional 997 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Price Performance

Nutanix stock opened at $60.15 on Thursday. Nutanix has a 12 month low of $33.30 and a 12 month high of $73.69. The company has a fifty day moving average price of $53.61 and a two-hundred day moving average price of $58.94. The company has a market cap of $14.84 billion, a PE ratio of -859.16, a P/E/G ratio of 12.03 and a beta of 1.19.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.