Nutanix (NASDAQ:NTNX) Now Covered by UBS Group

Equities research analysts at UBS Group began coverage on shares of Nutanix (NASDAQ:NTNX - Get Free Report) in a research report issued on Thursday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $81.00 price target on the technology company's stock. UBS Group's price target suggests a potential upside of 25.04% from the company's current price.

NTNX has been the subject of several other research reports. Bank of America raised their target price on shares of Nutanix from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on Nutanix from $60.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Morgan Stanley upped their target price on Nutanix from $72.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com upgraded Nutanix from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 28th. Finally, Piper Sandler raised their price objective on shares of Nutanix from $77.00 to $83.00 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, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Nutanix Trading Up 1.0 %

NTNX opened at $64.78 on Thursday. Nutanix has a 12-month low of $43.35 and a 12-month high of $75.80. The firm has a 50 day moving average of $65.94 and a two-hundred day moving average of $59.12. The firm has a market capitalization of $17.18 billion, a PE ratio of -185.09, a P/E/G ratio of 11.25 and a beta of 1.13.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix 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 sale, the chief financial officer now owns 192,169 shares of the company's stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Sangster sold 11,950 shares of the stock in a transaction dated 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 owns 123,868 shares of the company's stock, valued at $7,411,022.44. This trade represents 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 currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTNX. ORG Wealth Partners LLC acquired a new stake in Nutanix during the third quarter worth about $27,000. Larson Financial Group LLC increased its holdings in shares of Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company's stock worth $30,000 after buying an additional 281 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Nutanix during the 2nd quarter valued at approximately $32,000. Advisors Asset Management Inc. lifted its holdings in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock valued at $32,000 after acquiring an additional 321 shares during the last quarter. Finally, Signaturefd LLC grew its position in Nutanix by 57.8% in the third quarter. Signaturefd LLC now owns 956 shares of the technology company's stock worth $57,000 after acquiring an additional 350 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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