Nutanix (NASDAQ:NTNX) Price Target Cut to $76.00 by Analysts at Raymond James

Nutanix (NASDAQ:NTNX - Get Free Report) had its price objective decreased by research analysts at Raymond James from $83.00 to $76.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Raymond James' price objective indicates a potential upside of 15.30% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley increased their price target on Nutanix from $78.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Piper Sandler upped their price objective on Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their target price on Nutanix from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Barclays raised their price objective on shares of Nutanix from $75.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Finally, StockNews.com raised shares of Nutanix from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.87.

Nutanix Trading Down 1.0 %

NTNX stock traded down $0.63 during trading on Friday, reaching $65.92. 386,305 shares of the stock were exchanged, compared to its average volume of 1,721,088. The business has a 50 day moving average price of $66.29 and a 200-day moving average price of $60.43. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of -188.31, a P/E/G ratio of 10.19 and a beta of 1.16.

Insider Activity at Nutanix

In related 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 value of $4,207,880.85. Following the sale, the chief executive officer now directly owns 649,034 shares of the company's stock, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 11,810 shares of the 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 transaction, the chief financial officer now directly owns 190,882 shares in the company, valued at approximately $12,718,467.66. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,065 shares of company stock valued at $5,405,141. Company insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Nutanix

Several institutional investors have recently bought and sold shares of NTNX. Nisa Investment Advisors LLC increased its holdings in Nutanix by 321.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 57,883 shares of the technology company's stock valued at $3,541,000 after purchasing an additional 44,155 shares in the last quarter. Perpetual Ltd acquired a new position in Nutanix during the 4th quarter worth approximately $520,000. Crossmark Global Holdings Inc. acquired a new stake in Nutanix in the fourth quarter valued at approximately $2,238,000. Arkadios Wealth Advisors lifted its stake in shares of Nutanix by 11.5% in the fourth quarter. Arkadios Wealth Advisors now owns 25,874 shares of the technology company's stock worth $1,583,000 after acquiring an additional 2,667 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in Nutanix in the fourth quarter valued at about $399,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

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