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

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

A number of other analysts have also recently commented on the stock. Needham & Company LLC upped their price target on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Barclays upped their target price on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their target price on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Piper Sandler raised their price objective 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, Raymond James lowered their price objective on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.87.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $65.14 on Friday. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The company’s 50 day moving average price is $66.11 and its 200-day moving average price is $60.52. The company has a market capitalization of $17.45 billion, a P/E ratio of -186.11, a price-to-earnings-growth ratio of 10.19 and a beta of 1.16.

Insider Activity at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 190,882 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the sale, the chief executive officer now owns 649,034 shares of the company’s stock, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,065 shares of company stock valued at $5,405,141. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in Nutanix by 5.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 36,206 shares of the technology company’s stock valued at $2,215,000 after buying an additional 1,723 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Nutanix by 321.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 57,883 shares of the technology company’s stock valued at $3,541,000 after acquiring an additional 44,155 shares during the last quarter. Perpetual Ltd bought a new stake in Nutanix during the fourth quarter worth $520,000. Crossmark Global Holdings Inc. purchased a new position in Nutanix in the fourth quarter worth $2,238,000. Finally, Arkadios Wealth Advisors grew its stake in Nutanix by 11.5% in the 4th quarter. Arkadios Wealth Advisors now owns 25,874 shares of the technology company’s stock valued at $1,583,000 after purchasing an additional 2,667 shares during the period. 85.25% of the stock is owned by 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.