StockNews.com Upgrades Nutanix (NASDAQ:NTNX) to Strong-Buy

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.

A number of other brokerages also recently commented on NTNX. Northland Securities reiterated a “market perform” rating and issued a $77.00 target price (up from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Royal Bank of Canada increased their target price on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Oppenheimer assumed coverage on shares of Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Bank of America increased their price objective on Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Barclays boosted their target price on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Trading Down 2.1 %

NTNX opened at $65.28 on Thursday. The firm has a market cap of $17.31 billion, a price-to-earnings ratio of -186.51, a PEG ratio of 10.80 and a beta of 1.17. Nutanix has a 12 month low of $42.22 and a 12 month high of $75.80. The stock has a fifty day moving average price of $64.88 and a 200-day moving average price of $59.33.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business’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 in the company, valued at $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO David Sangster sold 11,950 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NTNX. Cetera Investment Advisers increased its holdings in Nutanix by 48.7% in the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after buying an additional 24,918 shares in the last quarter. Diversified Trust Co increased its stake in shares of Nutanix by 46.7% in the 2nd quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock valued at $2,084,000 after purchasing an additional 11,668 shares in the last quarter. Versor Investments LP raised its holdings in Nutanix by 211.7% in the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after purchasing an additional 22,652 shares during the period. Marshall Wace LLP boosted its position in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after purchasing an additional 477,838 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC acquired a new stake in Nutanix in the second quarter valued at approximately $2,274,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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.