Nutanix (NASDAQ:NTNX) Trading Up 6.4% – Should You Buy?

Nutanix, Inc. (NASDAQ:NTNX)’s share price rose 6.4% during mid-day trading on Tuesday . The stock traded as high as $66.91 and last traded at $66.99. Approximately 871,922 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 1,821,402 shares. The stock had previously closed at $62.97.

Wall Street Analyst Weigh In

NTNX has been the subject of several research reports. Wells Fargo & Company increased their price target 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. Oppenheimer began coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Barclays raised their price objective on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Raymond James reduced their price objective on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC lifted their price target 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. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nutanix presently has a consensus rating of “Moderate Buy” and an average price target of $78.87.

Nutanix Price Performance

The firm’s 50-day moving average is $65.37 and its two-hundred day moving average is $60.94. The company has a market cap of $18.22 billion, a P/E ratio of -194.31, a PEG ratio of 10.88 and a beta of 1.16.

Insider Buying and Selling at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,065 shares of company stock worth $5,405,141 over the last quarter. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTNX. ProShare Advisors LLC grew its holdings in shares of Nutanix by 6.3% in the second quarter. ProShare Advisors LLC now owns 7,690 shares of the technology company’s stock worth $437,000 after purchasing an additional 455 shares during the last quarter. AXA S.A. bought a new position in shares of Nutanix in the second quarter worth about $1,046,000. Creative Planning grew its holdings in shares of Nutanix by 45.8% in the second quarter. Creative Planning now owns 10,955 shares of the technology company’s stock worth $623,000 after purchasing an additional 3,440 shares during the last quarter. Paragon Capital Management Inc. bought a new position in shares of Nutanix in the second quarter worth about $1,468,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Nutanix by 12.5% in the third quarter. Handelsbanken Fonder AB now owns 58,300 shares of the technology company’s stock worth $3,454,000 after purchasing an additional 6,500 shares during the last quarter. 85.25% of the stock is currently owned by 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.