Nutanix (NASDAQ:NTNX) Coverage Initiated at UBS Group

Research analysts at UBS Group started coverage on shares of Nutanix (NASDAQ:NTNX - Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The firm set a "buy" rating and a $81.00 price target on the technology company's stock. UBS Group's price objective would suggest a potential upside of 17.80% from the company's previous close.

NTNX has been the topic of a number of other reports. Piper Sandler upped their target price on shares of Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Northland Securities reaffirmed a "market perform" rating and set a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their target price on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. Royal Bank of Canada boosted their target price on Nutanix from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, StockNews.com upgraded Nutanix from a "buy" rating to a "strong-buy" rating in a report on Thursday, November 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nutanix currently has an average rating of "Moderate Buy" and an average target price of $79.00.

Nutanix Stock Up 6.1 %

NTNX stock traded up $3.98 during midday trading on Thursday, reaching $68.76. 11,330,212 shares of the company's stock traded hands, compared to its average volume of 2,619,959. The company has a 50-day simple moving average of $65.94 and a two-hundred day simple moving average of $59.12. Nutanix has a 1-year low of $43.35 and a 1-year high of $75.80. The company has a market cap of $18.24 billion, a price-to-earnings ratio of -196.46, a PEG ratio of 11.25 and a beta of 1.13.

Insider Activity at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares of the company's stock, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Sangster sold 11,950 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

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

Nutanix Company Profile

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.