Nutanix (NASDAQ:NTNX - Free Report) had its target price hoisted by Morgan Stanley from $78.00 to $85.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company's stock.
Several other research firms also recently issued reports on NTNX. UBS Group initiated coverage on Nutanix in a report on Thursday, December 12th. They set a "buy" rating and a $81.00 price objective on the stock. Bank of America upped their price objective on shares of Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Northland Securities reiterated a "market perform" rating and set a $77.00 target price (up previously from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Finally, Needham & Company LLC increased 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. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $79.47.
View Our Latest Stock Analysis on Nutanix
Nutanix Stock Down 0.2 %
NASDAQ:NTNX traded down $0.15 during trading hours on Tuesday, hitting $66.14. 3,215,989 shares of the stock were exchanged, compared to its average volume of 2,619,872. The company's 50 day moving average is $66.44 and its two-hundred day moving average is $59.10. Nutanix has a twelve month low of $43.35 and a twelve month high of $75.80. The company has a market capitalization of $17.72 billion, a P/E ratio of -188.97, a price-to-earnings-growth ratio of 10.34 and a beta of 1.13.
Insider Activity at Nutanix
In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were 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 directly owns 649,034 shares in the company, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 190,882 shares of the company's stock, valued at $12,718,467.66. This trade represents a 5.83 % 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 company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Versor Investments LP increased its holdings in shares of Nutanix by 211.7% during the third 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 increased its stake in Nutanix by 47.5% in the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company's stock valued at $84,308,000 after acquiring an additional 477,838 shares during the last quarter. Atreides Management LP bought a new position in Nutanix in the third quarter valued at approximately $8,290,000. Resolute Capital Asset Partners LLC bought a new position in Nutanix in the second quarter valued at approximately $2,274,000. Finally, Two Sigma Advisers LP increased its stake in Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company's stock valued at $166,730,000 after acquiring an additional 695,567 shares during the last quarter. 85.25% of the stock is owned by institutional investors.
About Nutanix
(
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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.
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