Nutanix (NASDAQ:NTNX) Lowered to “Buy” Rating by Wall Street Zen

Nutanix (NASDAQ:NTNX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages have also weighed in on NTNX. Raymond James lowered shares of Nutanix from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group lifted their price target on shares of Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley restated an “overweight” rating and set a $90.00 target price (up previously from $75.00) on shares of Nutanix in a report on Tuesday. Barclays set a $94.00 target price on shares of Nutanix and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC increased their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.23.

Nutanix Stock Performance

Shares of NTNX opened at $79.76 on Thursday. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36. The firm’s 50 day moving average price is $69.89 and its two-hundred day moving average price is $68.57. The firm has a market cap of $21.27 billion, a P/E ratio of -227.89, a PEG ratio of 11.80 and a beta of 0.70.

Insider Buying and Selling at Nutanix

In other Nutanix news, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This trade represents a 32.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the sale, the chief executive officer now owns 497,309 shares of the company’s stock, valued at approximately $39,287,411. This represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,575,797 shares of company stock worth $415,742,123 over the last quarter. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

A number of hedge funds have recently modified their holdings of the stock. Reliant Investment Partners LLC acquired a new stake in shares of Nutanix during the 1st quarter worth about $223,000. IFM Investors Pty Ltd lifted its stake in shares of Nutanix by 4.6% during the 1st quarter. IFM Investors Pty Ltd now owns 48,745 shares of the technology company’s stock worth $3,403,000 after buying an additional 2,159 shares during the last quarter. Bayforest Capital Ltd lifted its stake in shares of Nutanix by 61.1% during the 1st quarter. Bayforest Capital Ltd now owns 4,410 shares of the technology company’s stock worth $308,000 after buying an additional 1,672 shares during the last quarter. Aristeia Capital L.L.C. lifted its stake in shares of Nutanix by 17.3% during the 1st quarter. Aristeia Capital L.L.C. now owns 114,600 shares of the technology company’s stock worth $8,000,000 after buying an additional 16,900 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Nutanix during the 1st quarter worth about $960,000. 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.