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

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

NTNX has been the subject of several other research reports. Wells Fargo & Company raised their target price on shares of Nutanix from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Piper Sandler upped their target price on Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Barclays lifted their price target on Nutanix from $75.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Needham & Company LLC raised their price objective on shares of Nutanix from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley boosted their target price on shares of Nutanix from $78.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Nutanix presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.50.

Nutanix Trading Down 3.3 %

Shares of Nutanix stock traded down $2.35 during trading on Friday, hitting $69.74. 1,687,100 shares of the stock traded hands, compared to its average volume of 1,807,464. The stock's fifty day simple moving average is $66.24 and its 200 day simple moving average is $63.23. The firm has a market cap of $18.69 billion, a P/E ratio of -199.26, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the sale, the chief executive officer now owns 540,463 shares in the company, valued at $37,832,410. This represents a 15.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total value of $786,900.30. Following the completion of the transaction, the chief financial officer now directly owns 190,882 shares in the company, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock valued at $12,114,781 over the last quarter. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently modified their holdings of the business. Bain Capital Investors LLC acquired a new stake in shares of Nutanix in the 3rd quarter valued at approximately $998,601,000. Norges Bank purchased a new stake in Nutanix in the 4th quarter valued at approximately $195,758,000. Pictet Asset Management Holding SA boosted its stake in shares of Nutanix by 6,785.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after acquiring an additional 2,108,269 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Nutanix in the 4th quarter valued at about $91,639,000. Finally, Contour Asset Management LLC purchased a new stake in Nutanix in the 4th quarter worth approximately $87,318,000. 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.