Nutanix, Inc. (NASDAQ:NTNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Nutanix, Inc. (NASDAQ:NTNX) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $90.38.

A number of research firms have issued reports on NTNX. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Susquehanna boosted their price target on Nutanix from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Thursday, May 29th. Wells Fargo & Company upped their target price on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. UBS Group upped their price target on Nutanix from $81.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th.

Insider Buying and Selling at Nutanix

In other news, CEO Rajiv Ramaswami sold 7,740 shares of Nutanix stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $75.00, for a total value of $580,500.00. Following the sale, the chief executive officer now directly owns 558,366 shares in the company, valued at approximately $41,877,450. This trade represents a 1.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Virginia Gambale sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the transaction, the director now directly owns 38,330 shares in the company, valued at $2,989,740. This trade represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,556,264 shares of company stock valued at $426,904,673 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently made changes to their positions in the company. Harbour Investments Inc. boosted its holdings in Nutanix by 2,612.5% in the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after acquiring an additional 418 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Nutanix in the fourth quarter worth about $28,000. Twin Tree Management LP purchased a new stake in shares of Nutanix during the first quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new position in Nutanix during the first quarter valued at approximately $30,000. 85.25% of the stock is currently owned by institutional investors.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $74.07 on Friday. Nutanix has a 52 week low of $43.35 and a 52 week high of $83.36. The stock has a market capitalization of $19.75 billion, a P/E ratio of -211.63, a PEG ratio of 11.80 and a beta of 0.69. The stock’s fifty day moving average is $71.53 and its 200 day moving average is $69.16.

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.