Nutanix (NASDAQ:NTNX) Downgraded by StockNews.com to "Buy"

Nutanix (NASDAQ:NTNX - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Sunday.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC raised their target price on shares of Nutanix from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Northland Securities restated a "market perform" rating and set a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Barclays lifted their price objective on Nutanix from $75.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Morgan Stanley increased their target price on Nutanix from $78.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Raymond James dropped their price target on Nutanix from $83.00 to $76.00 and set an "outperform" rating for the company in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Nutanix currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.87.

Nutanix Stock Performance

NASDAQ:NTNX opened at $68.76 on Friday. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80. The firm's 50-day simple moving average is $65.22 and its 200 day simple moving average is $61.10. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of -196.46, a P/E/G ratio of 11.09 and a beta of 1.16.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 6,060 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business'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 directly owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,065 shares of company stock worth $5,405,141 in the last three months. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Freedom Investment Management Inc. increased its stake in shares of Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company's stock valued at $230,000 after buying an additional 151 shares during the period. Principal Securities Inc. increased its position in Nutanix by 52.4% during the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock valued at $35,000 after purchasing an additional 199 shares during the period. CIBC Asset Management Inc raised its holdings in Nutanix by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company's stock worth $417,000 after purchasing an additional 233 shares during the last quarter. Allworth Financial LP raised its holdings in Nutanix by 123.1% during the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company's stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Finally, Paragon Capital Management Inc. boosted its stake in shares of Nutanix by 1.0% in the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company's stock valued at $1,545,000 after purchasing an additional 258 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

Nutanix Company Profile

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.

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