Nutanix (NASDAQ:NTNX) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Nutanix (NASDAQ:NTNX) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.

Other research analysts also recently issued reports about the stock. Oppenheimer assumed coverage on shares of Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Needham & Company LLC raised their target price on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Royal Bank of Canada boosted their price target on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Barclays raised their price objective on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nutanix currently has an average rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Stock Down 2.1 %

Shares of NASDAQ:NTNX opened at $65.28 on Thursday. The stock has a market capitalization of $17.31 billion, a PE ratio of -186.51, a price-to-earnings-growth ratio of 10.80 and a beta of 1.17. The firm’s 50 day moving average price is $64.88 and its 200-day moving average price is $59.33. Nutanix has a twelve month low of $42.22 and a twelve month high of $75.80.

Insider Activity at Nutanix

In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Nutanix

A number of large investors have recently made changes to their positions in NTNX. Tidal Investments LLC grew its position in Nutanix by 4.0% in the third quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock worth $1,321,000 after acquiring an additional 862 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Nutanix in the 3rd quarter worth approximately $111,000. Sanctuary Advisors LLC purchased a new position in Nutanix during the third quarter worth $555,000. Geode Capital Management LLC grew its holdings in Nutanix by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after purchasing an additional 22,091 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in shares of Nutanix by 1.0% during the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after buying an additional 7,000 shares during the last quarter. 85.25% of the stock is currently owned by 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.