Nutanix (NASDAQ:NTNX) Raised to "Strong-Buy" at StockNews.com

Nutanix (NASDAQ:NTNX - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Thursday.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Piper Sandler upped their target price on shares of Nutanix from $77.00 to $83.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Raymond James reduced their price target on Nutanix from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Friday, January 17th. Barclays upped 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. Finally, Needham & Company LLC raised 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, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.50.

Nutanix Stock Performance

NASDAQ NTNX traded down $0.34 during trading on Thursday, reaching $70.47. 1,694,924 shares of the company traded hands, compared to its average volume of 1,916,061. The stock's 50 day moving average price is $65.76 and its two-hundred day moving average price is $62.78. The company has a market cap of $18.88 billion, a price-to-earnings ratio of -201.34, a P/E/G ratio of 11.60 and a beta of 1.17. Nutanix has a 1-year low of $43.35 and a 1-year high of $75.80.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the firm's stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now directly owns 45,330 shares of the company's stock, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,917 shares of company stock worth $12,114,781. Insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTNX. Creative Planning increased its stake in shares of Nutanix by 26.5% during the third quarter. Creative Planning now owns 13,862 shares of the technology company's stock worth $821,000 after purchasing an additional 2,907 shares during the period. Paragon Capital Management Inc. lifted its holdings in shares of Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company's stock worth $1,545,000 after buying an additional 258 shares in the last quarter. Rheos Capital Works Inc. bought a new stake in shares of Nutanix in the third quarter valued at about $5,925,000. Claro Advisors LLC acquired a new position in shares of Nutanix in the third quarter valued at about $1,546,000. Finally, Inspire Advisors LLC increased its position in Nutanix by 9.9% during the third quarter. Inspire Advisors LLC now owns 47,491 shares of the technology company's stock worth $2,814,000 after acquiring an additional 4,260 shares during the period. Institutional investors and hedge funds own 85.25% of the company's stock.

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.