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

Nutanix (NASDAQ:NTNX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Thursday.

A number of other equities research analysts have also issued reports on NTNX. JPMorgan Chase & Co. increased their target price on Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their price objective on shares of Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Wells Fargo & Company upped their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Piper Sandler lowered their price target on shares of Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Northland Securities upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.23.

Nutanix Price Performance

NASDAQ NTNX traded down $0.18 during trading hours on Thursday, hitting $79.82. The company had a trading volume of 1,013,035 shares, compared to its average volume of 2,556,521. The firm's 50 day moving average is $69.53 and its 200 day moving average is $68.34. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $83.36. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of -227.96, a P/E/G ratio of 11.80 and a beta of 0.70.

Insider Transactions at Nutanix

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of Nutanix stock in a transaction on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the transaction, the director now owns 3,050 shares of the company's stock, valued at $232,288. The trade was a 69.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the business's 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 sale, the chief executive officer now owns 497,309 shares of the company's stock, valued at approximately $39,287,411. The trade was a 10.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,575,797 shares of company stock valued at $415,742,123. Insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Nutanix during the fourth quarter worth about $195,758,000. Pictet Asset Management Holding SA grew its holdings 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 purchasing an additional 2,108,269 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $91,639,000. Contour Asset Management LLC acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $87,318,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Nutanix by 65.5% in the 1st quarter. AQR Capital Management LLC now owns 3,604,005 shares of the technology company's stock worth $246,874,000 after purchasing an additional 1,426,049 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.

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