Nutanix (NASDAQ:NTNX) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Nutanix (NASDAQ:NTNX) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $80.00 price objective on the technology company’s stock.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley dropped their target price on shares of Nutanix from $72.00 to $62.00 and set an equal weight rating for the company in a research report on Friday, June 21st. KeyCorp lifted their price objective on shares of Nutanix from $69.00 to $79.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. Northland Capmk cut Nutanix from a strong-buy rating to a hold rating in a research note on Thursday, May 30th. Raymond James lifted their price objective on shares of Nutanix from $72.00 to $76.00 and gave the company an outperform rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada upped their target price on Nutanix from $72.00 to $80.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $73.31.

Nutanix Stock Up 0.4 %

NTNX stock opened at $63.19 on Thursday. Nutanix has a twelve month low of $30.26 and a twelve month high of $73.69. The stock has a market cap of $15.59 billion, a P/E ratio of -902.59, a PEG ratio of 5.75 and a beta of 1.16. The business’s 50-day moving average price is $52.87 and its 200-day moving average price is $58.75.

Insider Transactions at Nutanix

In related news, CEO Rajiv Ramaswami sold 23,986 shares of Nutanix stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the sale, the chief executive officer now directly owns 407,045 shares in the company, valued at approximately $22,057,768.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Rajiv Ramaswami sold 23,986 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the completion of the transaction, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at $22,057,768.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 10,384 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the transaction, 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 three months, insiders sold 46,936 shares of company stock valued at $2,531,273. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several institutional investors have recently made changes to their positions in the stock. FIL Ltd lifted its stake in shares of Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock valued at $424,830,000 after purchasing an additional 3,809,981 shares during the period. Norges Bank acquired a new stake in shares of Nutanix during the 4th quarter valued at approximately $137,465,000. Nordea Investment Management AB lifted its position in shares of Nutanix by 387.1% during the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock valued at $162,229,000 after acquiring an additional 2,076,377 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after acquiring an additional 985,421 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in shares of Nutanix by 123.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock worth $81,593,000 after acquiring an additional 794,215 shares during the period. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Company Profile

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.