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

Nutanix (NASDAQ:NTNX) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

NTNX has been the topic of a number of other reports. Oppenheimer began coverage on shares of Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. UBS Group assumed coverage on Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 price target for the company. Raymond James reduced their price target on Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Morgan Stanley increased their price objective on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their target price on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.87.

Nutanix Stock Performance

Nutanix stock opened at $64.69 on Friday. Nutanix has a twelve month low of $43.35 and a twelve month high of $75.80. The firm has a market cap of $17.33 billion, a PE ratio of -184.83, a P/E/G ratio of 10.88 and a beta of 1.16. The firm’s 50 day moving average price is $65.51 and its two-hundred day moving average price is $60.73.

Insider Buying and Selling

In other news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares in the company, valued at $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the chief financial officer now owns 190,882 shares in the company, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,065 shares of company stock valued at $5,405,141. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NTNX. Dimensional Fund Advisors LP grew its position in Nutanix by 15.7% during the second quarter. Dimensional Fund Advisors LP now owns 901,923 shares of the technology company’s stock worth $51,270,000 after buying an additional 122,505 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Nutanix by 9.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,003 shares of the technology company’s stock worth $388,000 after acquiring an additional 578 shares during the period. ProShare Advisors LLC grew its holdings in shares of Nutanix by 6.3% during the 2nd quarter. ProShare Advisors LLC now owns 7,690 shares of the technology company’s stock worth $437,000 after purchasing an additional 455 shares in the last quarter. Xponance Inc. increased its position in shares of Nutanix by 5.0% during the second quarter. Xponance Inc. now owns 15,021 shares of the technology company’s stock valued at $854,000 after purchasing an additional 711 shares during the period. Finally, AXA S.A. acquired a new position in shares of Nutanix in the second quarter valued at $1,046,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

About Nutanix

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.